Abbott Laboratories (ABT) Updates FY14 Earnings Guidance
Abbott Laboratories (NYSE:ABT) updated its FY14 earnings guidance on Wednesday. The company provided EPS guidance of $2.16-2.26 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.19, AnalystRatingsNetwork reports.
Shares of Abbott Laboratories (NYSE:ABT) opened at 37.97 on Wednesday. Abbott Laboratories has a 52 week low of $32.70 and a 52 week high of $40.49. The stock has a 50-day moving average of $38.84 and a 200-day moving average of $37.67. The company has a market cap of $58.590 billion and a P/E ratio of 23.39. Abbott Laboratories also was the recipient of a significant decrease in short interest during the month of January. As of March 31st, there was short interest totalling 12,603,745 shares, a decrease of 25.8% from the March 14th total of 16,981,772 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average trading volume of 9,290,714 shares, the short-interest ratio is currently 1.4 days.
Abbott Laboratories (NYSE:ABT) last released its earnings data on Wednesday, April 16th. The company reported $0.41 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.36 by $0.05. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter last year, the company posted $0.42 earnings per share. Abbott Laboratories’s revenue was down 2.5% compared to the same quarter last year. Analysts expect that Abbott Laboratories will post $2.20 EPS for the current fiscal year.
A number of research firms have recently commented on ABT. Analysts at Jefferies Group reiterated a buy rating on shares of Abbott Laboratories in a research note on Monday. They now have a $46.00 price target on the stock. On a related note, analysts at Zacks reiterated a neutral rating on shares of Abbott Laboratories in a research note on Friday, March 21st. They now have a $41.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $38.78.
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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