$0.73 EPS Expected for Abbott Laboratories (ABT) This Quarter
Wall Street analysts expect Abbott Laboratories (NYSE:ABT) to post earnings of $0.73 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Abbott Laboratories’ earnings. The highest EPS estimate is $0.74 and the lowest is $0.72. Abbott Laboratories posted earnings per share of $0.65 in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.3%. The company is scheduled to announce its next quarterly earnings results on Wednesday, January 24th.
On average, analysts expect that Abbott Laboratories will report full year earnings of $2.50 per share for the current year, with EPS estimates ranging from $2.47 to $2.52. For the next fiscal year, analysts anticipate that the business will report earnings of $2.83 per share, with EPS estimates ranging from $2.80 to $2.85. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that cover Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. During the same quarter in the previous year, the business earned $0.59 earnings per share. Abbott Laboratories’s revenue was up 28.8% compared to the same quarter last year.
ABT has been the topic of a number of analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, June 29th. TheStreet raised Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Wells Fargo & Company reaffirmed an “outperform” rating and set 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 reaffirmed an “outperform” rating and set a $55.00 target price (up previously from $48.00) on shares of Abbott Laboratories in a research note on Friday, July 14th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $56.81.
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In other news, insider Hubert L. Allen sold 4,600 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total transaction of $233,634.00. Following the completion of the sale, the insider now owns 105,479 shares in the company, valued at approximately $5,357,278.41. The sale was disclosed in a document filed 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 shares were sold at an average price of $49.16, for a total value of $98,320.00. Following the sale, the insider now owns 28,806 shares of the company’s stock, valued at approximately $1,416,102.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 333,310 shares of company stock valued at $16,857,255. Company insiders own 0.76% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Villere ST Denis J & Co. LLC lifted its holdings in shares of Abbott Laboratories by 2.3% during the 2nd quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock valued at $13,037,000 after purchasing an additional 5,950 shares during the last quarter. Private Bank & Trust Co. lifted its holdings in shares of Abbott Laboratories by 12.3% during the 2nd quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock valued at $1,473,000 after purchasing an additional 3,330 shares during the last quarter. Comerica Securities Inc. purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at $2,833,000. Century Capital Management LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at $4,332,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Abbott Laboratories by 264.8% during the 1st quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock valued at $28,173,000 after purchasing an additional 460,477 shares during the last quarter. Hedge funds and other institutional investors own 71.45% of the company’s stock.
Abbott Laboratories (ABT) traded down 0.43% during midday trading on Monday, reaching $56.08. The company’s stock had a trading volume of 4,709,045 shares. The firm has a market cap of $97.44 billion, a price-to-earnings ratio of 78.54 and a beta of 1.06. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $56.69. The company’s 50-day moving average is $53.27 and its 200 day moving average is $48.51.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 1.89%. Abbott Laboratories’s dividend payout ratio is currently 83.47%.
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.
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