Zacks: Analysts Anticipate Abbott Laboratories (ABT) Will Post Earnings of $0.58 Per Share

Equities analysts predict that Abbott Laboratories (NYSE:ABT) will report $0.58 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Abbott Laboratories’ earnings, with the lowest EPS estimate coming in at $0.57 and the highest estimate coming in at $0.59. Abbott Laboratories posted earnings of $0.48 per share during the same quarter last year, which suggests a positive year over year growth rate of 20.8%. The firm is scheduled to report its next earnings report on Wednesday, April 18th.

On average, analysts expect that Abbott Laboratories will report full year earnings of $2.86 per share for the current financial year, with EPS estimates ranging from $2.85 to $2.89. For the next financial year, analysts forecast that the company will post earnings of $3.21 per share, with EPS estimates ranging from $3.15 to $3.27. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Abbott Laboratories.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The firm had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.38 billion. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The company’s revenue was up 42.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS.

A number of equities research analysts have weighed in on ABT shares. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Barclays reaffirmed a “buy” rating and issued a $66.00 target price on shares of Abbott Laboratories in a report on Monday, January 8th. BTIG Research downgraded Abbott Laboratories from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. They noted that the move was a valuation call. Stifel Nicolaus raised their target price on Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Tuesday, October 31st. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Abbott Laboratories currently has a consensus rating of “Buy” and a consensus target price of $65.47.

Shares of Abbott Laboratories (NYSE:ABT) traded down $0.19 during mid-day trading on Wednesday, hitting $58.67. The company’s stock had a trading volume of 6,870,000 shares, compared to its average volume of 7,480,000. The firm has a market cap of $102,120.00, a P/E ratio of 293.35, a PEG ratio of 1.78 and a beta of 1.55. Abbott Laboratories has a 52-week low of $42.28 and a 52-week high of $64.60. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a dividend of $0.28 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.12 annualized dividend and a dividend yield of 1.91%. Abbott Laboratories’s dividend payout ratio (DPR) is 560.00%.

In related news, insider Alejandro D. Wellisch sold 2,153 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the transaction, the insider now directly owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Miles D. White sold 276,886 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total value of $15,065,367.26. Following the transaction, the chairman now directly owns 3,677,913 shares of the company’s stock, valued at $200,115,246.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 445,615 shares of company stock worth $24,666,341. 0.76% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. IFG Advisory LLC bought a new position in Abbott Laboratories during the 4th quarter worth $2,824,000. Rowland & Co. Investment Counsel ADV bought a new position in Abbott Laboratories during the 4th quarter worth $102,000. Tributary Capital Management LLC bought a new position in Abbott Laboratories during the 3rd quarter worth $106,000. Heritage Trust Co raised its position in Abbott Laboratories by 10.1% during the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after purchasing an additional 200 shares during the last quarter. Finally, Cerebellum GP LLC bought a new position in Abbott Laboratories during the 4th quarter worth $133,000. 71.22% of the stock is owned by institutional investors and hedge funds.

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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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Earnings History and Estimates for Abbott Laboratories (NYSE:ABT)

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