Abbott Laboratories (ABT) Releases FY14 Earnings Guidance
Abbott Laboratories (NYSE:ABT) issued an update on its FY14 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.21-2.26 for the period, compared to the Thomson Reuters consensus estimate of $2.21, Analyst RN reports.
Several analysts have recently commented on the stock. Analysts at Cowen and Company raised their price target on shares of Abbott Laboratories from $41.00 to $45.00 in a research note to investors on Friday, January 17th. On a related note, analysts at Morgan Stanley upgraded shares of Abbott Laboratories from an equal weight rating to an overweight rating in a research note to investors on Friday, January 17th. They now have a $45.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Abbott Laboratories from $48.00 to $49.00 in a research note to investors on Thursday, January 9th. They now have a buy rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $39.64.
Abbott Laboratories (NYSE:ABT) traded down 2.15% on Wednesday, hitting $38.28. 5,584,173 shares of the company’s stock traded hands. Abbott Laboratories has a 52-week low of $32.58 and a 52-week high of $39.86. The stock has a 50-day moving average of $38.16 and a 200-day moving average of $36.31. The company has a market cap of $59.188 billion and a P/E ratio of 20.45.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.58 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.58. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the prior year, the company posted $1.51 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post $2.01 earnings per share for the current fiscal year.
Abbott Laboratories (NYSE:ABT), is engaged in the discovery, development, manufacture, and sale of a portfolio of science-based health care products.
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