$0.65 EPS Expected for Abbott Laboratories (ABT) This Quarter
Analysts expect Abbott Laboratories (NYSE:ABT) to post $0.65 earnings per share for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Abbott Laboratories’ earnings. The highest EPS estimate is $0.66 and the lowest is $0.64. Abbott Laboratories posted earnings per share of $0.59 during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.2%. The company is scheduled to announce its next earnings results before the market opens on Wednesday, October 18th.
According to Zacks, 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 $2.51. For the next financial year, analysts forecast that the firm will report earnings of $2.80 per share, with EPS estimates ranging from $2.75 to $2.85. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The company had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The firm’s revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 earnings per share.
A number of equities research analysts have weighed in on ABT shares. BidaskClub upgraded shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Jefferies Group LLC reiterated a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a research note on Thursday, June 29th. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Wells Fargo & Company restated an “outperform” rating and issued a $54.00 target price (up previously from $47.50) on shares of Abbott Laboratories in a research note on Friday, June 30th. Finally, Cowen and Company restated an “outperform” rating and issued a $55.00 target price (up previously from $48.00) on shares of Abbott Laboratories in a research note on Friday, July 14th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Abbott Laboratories presently has a consensus rating of “Buy” and a consensus price target of $54.40.
COPYRIGHT VIOLATION NOTICE: This report was posted by American Banking News and is the property of of American Banking News. If you are reading this report on another publication, it was illegally stolen and republished in violation of US and international trademark & copyright law. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/10/04/0-65-eps-expected-for-abbott-laboratories-abt-this-quarter.html.
Shares of Abbott Laboratories (NYSE ABT) traded up 1.10% during mid-day trading on Wednesday, hitting $54.34. 5,629,687 shares of the company’s stock were exchanged. The company has a market capitalization of $94.41 billion, a price-to-earnings ratio of 76.11 and a beta of 1.06. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $54.80. The firm has a 50 day moving average price of $51.40 and a 200-day moving average price of $47.64.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued 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 1.95%. Abbott Laboratories’s dividend payout ratio is 149.30%.
In other Abbott Laboratories news, insider Sharon J. Bracken sold 2,000 shares of the business’s stock in a transaction dated 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 approximately $1,416,102.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian J. Blaser sold 15,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $50.00, for a total value of $750,000.00. Following the sale, the insider now directly owns 143,154 shares of the company’s stock, valued at $7,157,700. The disclosure for this sale can be found here. Insiders have sold a total of 333,310 shares of company stock valued at $16,857,255 over the last three months. Company insiders own 0.76% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Abbott Laboratories by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock worth $6,308,944,000 after purchasing an additional 3,241,063 shares during the last quarter. State Street Corp raised its holdings in Abbott Laboratories by 18.9% during the 1st quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock worth $3,574,987,000 after purchasing an additional 12,806,535 shares during the last quarter. Capital Research Global Investors raised its holdings in Abbott Laboratories by 45.7% during the 2nd quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after purchasing an additional 14,918,038 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Abbott Laboratories by 11.0% during the 1st quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock worth $1,500,920,000 after purchasing an additional 3,344,508 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Abbott Laboratories by 3.1% during the 2nd quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock worth $1,305,942,000 after purchasing an additional 809,732 shares during the last quarter. 71.50% of the stock is owned by hedge funds and other institutional investors.
About Abbott Laboratories
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.