Zacks: Brokerages Anticipate Abbott Laboratories (NYSE:ABT) to Announce $0.66 EPS
Equities analysts predict that Abbott Laboratories (NYSE:ABT) will report earnings per share of $0.66 for the current quarter, according to Zacks. Seven analysts have made estimates for Abbott Laboratories’ earnings. The highest EPS estimate is $0.69 and the lowest is $0.64. Abbott Laboratories posted earnings of $0.59 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 11.9%. The business is expected to issue its next earnings results on Wednesday, October 18th.
According to Zacks, analysts expect that Abbott Laboratories will report full-year earnings of $2.47 per share for the current financial year, with EPS estimates ranging from $2.45 to $2.52. For the next fiscal year, analysts anticipate that the company will post earnings of $2.78 per share, with EPS estimates ranging from $2.70 to $2.85. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.63 billion. Abbott Laboratories had a net margin of 6.74% and a return on equity of 14.91%. Abbott Laboratories’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 earnings per share.
Several brokerages have weighed in on ABT. Royal Bank Of Canada reissued a “buy” rating on shares of Abbott Laboratories in a research report on Monday, May 15th. Jefferies Group LLC reissued a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research report on Friday, June 16th. BTIG Research began coverage on shares of Abbott Laboratories in a research report on Wednesday, June 21st. They set a “buy” rating and a $56.00 price target for the company. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Wednesday, June 14th. Finally, BidaskClub raised shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $51.33.
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In other Abbott Laboratories news, insider Joseph J. Manning sold 4,200 shares of the firm’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $43.95, for a total transaction of $184,590.00. Following the completion of the sale, the insider now directly owns 26,224 shares in the company, valued at approximately $1,152,544.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the sale, the insider now owns 221,488 shares of the company’s stock, valued at $10,188,448. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,902 shares of company stock valued at $9,497,761. 0.76% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Cypress Capital Management LLC WY raised its stake in Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock worth $112,000 after buying an additional 696 shares in the last quarter. Feltz Wealth PLAN Inc. purchased a new stake in Abbott Laboratories during the first quarter worth $112,000. Advantage Investment Management LLC purchased a new stake in Abbott Laboratories during the fourth quarter worth $120,000. First Command Financial Services Inc. raised its stake in Abbott Laboratories by 10.2% in the first quarter. First Command Financial Services Inc. now owns 2,787 shares of the healthcare product maker’s stock worth $124,000 after buying an additional 257 shares in the last quarter. Finally, V Wealth Management LLC purchased a new stake in Abbott Laboratories during the second quarter worth $127,000. Institutional investors and hedge funds own 71.02% of the company’s stock.
Abbott Laboratories (NYSE ABT) opened at 50.77 on Friday. The company has a 50-day moving average of $48.18 and a 200 day moving average of $44.68. The firm has a market cap of $88.10 billion, a price-to-earnings ratio of 52.83 and a beta of 1.07. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $51.13.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be paid a $0.265 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $1.06 annualized dividend and a dividend yield of 2.08%. Abbott Laboratories’s payout ratio is 110.42%.
Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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