Zacks: Brokerages Anticipate Abbott Laboratories (ABT) to Post $0.65 Earnings Per Share
Equities analysts predict that Abbott Laboratories (NYSE:ABT) will announce earnings per share of $0.65 for the current quarter, according to Zacks. Seven analysts have issued estimates for Abbott Laboratories’ earnings, with the lowest EPS estimate coming in at $0.64 and the highest estimate coming in at $0.66. Abbott Laboratories reported earnings of $0.59 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.2%. The firm is expected to report its next earnings results on Wednesday, October 18th.
On average, analysts expect that Abbott Laboratories will report full-year earnings of $2.49 per share for the current fiscal year, with EPS estimates ranging from $2.45 to $2.52. For the next fiscal year, analysts expect that the firm will report earnings of $2.79 per share, with EPS estimates ranging from $2.75 to $2.85. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The company had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same quarter last year, the business posted $0.55 EPS. Abbott Laboratories’s quarterly revenue was up 24.5% compared to the same quarter last year.
ABT has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, May 24th. Stifel Nicolaus increased their price target on shares of Abbott Laboratories from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a research report on Friday, June 16th. BidaskClub upgraded shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Finally, BTIG Research initiated coverage on shares of Abbott Laboratories in a research report on Wednesday, June 21st. They issued a “buy” rating and a $56.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Abbott Laboratories currently has a consensus rating of “Buy” and an average price target of $52.50.
TRADEMARK VIOLATION NOTICE: This story was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another site, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark laws. The original version of this story can be read at https://www.americanbankingnews.com/2017/09/16/zacks-brokerages-anticipate-abbott-laboratories-abt-to-post-0-65-earnings-per-share.html.
Shares of Abbott Laboratories (ABT) opened at 51.76 on Friday. The stock’s 50 day moving average is $50.01 and its 200 day moving average is $46.93. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $52.60. The stock has a market cap of $89.93 billion, a price-to-earnings ratio of 72.49 and a beta of 1.06.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.05%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.
In other news, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total value of $9,729,225.00. Following the completion of the sale, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,963,656. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sharon J. Bracken sold 2,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total transaction of $98,320.00. Following the completion of the sale, the insider now directly owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 218,150 shares of company stock valued at $10,811,179. Corporate insiders own 0.76% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ABT. Capital Research Global Investors grew its stake in Abbott Laboratories by 45.7% during the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after acquiring an additional 14,918,038 shares in the last quarter. State Street Corp grew its stake in Abbott Laboratories by 18.9% during the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock valued at $3,574,987,000 after acquiring an additional 12,806,535 shares in the last quarter. Boston Partners grew its stake in Abbott Laboratories by 5,663.7% during the first quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock valued at $364,696,000 after acquiring an additional 8,069,557 shares in the last quarter. Janus Henderson Group PLC grew its stake in Abbott Laboratories by 3,373.9% during the second quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock valued at $382,779,000 after acquiring an additional 7,647,798 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Abbott Laboratories by 11.0% during the first quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock valued at $1,500,920,000 after acquiring an additional 3,344,508 shares in the last quarter. 71.66% of the stock is owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.