Analysts Expect Abbott Laboratories (ABT) Will Post Earnings of $0.73 Per Share
Brokerages expect that Abbott Laboratories (NYSE:ABT) will report $0.73 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Abbott Laboratories’ earnings, with the lowest EPS estimate coming in at $0.72 and the highest estimate coming in at $0.74. Abbott Laboratories posted earnings of $0.65 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.3%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, January 24th.
According to Zacks, analysts expect that Abbott Laboratories will report full year earnings of $2.49 per share for the current financial year, with EPS estimates ranging from $2.47 to $2.50. For the next fiscal year, analysts forecast that the company will report earnings of $2.83 per share, with EPS estimates ranging from $2.80 to $2.85. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share.
Abbott Laboratories (NYSE:ABT) traded down $0.55 on Friday, hitting $55.82. The stock had a trading volume of 3,112,613 shares, compared to its average volume of 6,629,339. Abbott Laboratories has a fifty-two week low of $37.38 and a fifty-two week high of $56.69. The stock has a market cap of $97,508.47, a P/E ratio of 23.25, a P/E/G ratio of 2.10 and a beta of 1.06. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 83.47%.
In other news, insider Brian J. Blaser sold 23,866 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $55.55, for a total value of $1,325,756.30. Following the transaction, the insider now owns 146,387 shares of the company’s stock, valued at approximately $8,131,797.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alejandro D. Wellisch sold 2,153 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total value of $120,266.58. Following the completion of the transaction, the insider now directly owns 10,256 shares in the company, valued at approximately $572,900.16. The disclosure for this sale can be found here. Insiders have sold 308,939 shares of company stock valued at $16,835,789 in the last ninety days. Corporate insiders own 0.76% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Villere ST Denis J & Co. LLC lifted its holdings in shares of Abbott Laboratories by 2.3% in 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 buying an additional 5,950 shares during the period. Private Bank & Trust Co. increased its position in Abbott Laboratories by 12.3% during the second quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock worth $1,473,000 after buying an additional 3,330 shares in the last quarter. Gratus Capital LLC grew its position in shares of Abbott Laboratories by 0.9% in the second quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock valued at $9,968,000 after purchasing an additional 1,869 shares during the period. Comerica Securities Inc. purchased a new stake in shares of Abbott Laboratories in the first quarter valued at $2,833,000. Finally, AQR Capital Management LLC grew its position in shares of Abbott Laboratories by 264.8% in the first 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 period. Institutional investors own 71.10% of the company’s stock.
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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