Is it time to Buy before this week’s earning report Abbott Laboratories (NYSE:ABT)


Earnings results for Abbott Laboratories (NYSE:ABT)

Abbott Laboratories is expected* to report earnings on 10/21/2020 before market open. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 9 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.9. The reported EPS for the same quarter last year was $0.84.

Abbott Laboratories last released its earnings data on July 16th, 2020. The healthcare product maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.15. The firm earned $7.33 billion during the quarter, compared to analyst estimates of $6.85 billion. Its revenue for the quarter was down 8.2% on a year-over-year basis. Abbott Laboratories has generated $3.24 earnings per share over the last year and currently has a price-to-earnings ratio of 62.6. Abbott Laboratories has confirmed that its next quarterly earnings report will be published on Wednesday, October 21st, 2020.

Analyst Opinion on Abbott Laboratories (NYSE:ABT)

17 Wall Street analysts have issued ratings and price targets for Abbott Laboratories in the last 12 months. Their average twelve-month price target is $114.33, predicting that the stock has a possible upside of 5.51%. The high price target for ABT is $136.00 and the low price target for ABT is $94.00. There are currently 1 sell rating, 4 hold ratings and 12 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Abbott Laboratories has received a consensus rating of Buy. The company’s average rating score is 2.65, and is based on 12 buy ratings, 4 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $114.33, Abbott Laboratories has a forecasted upside of 5.5% from its current price of $108.36. Abbott Laboratories has been the subject of 9 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Abbott Laboratories (NYSE:ABT)

Abbott Laboratories has a dividend yield of 1.33%, which is in the bottom 25% of all stocks that pay dividends. Abbott Laboratories has only been increasing its dividend for 1 years. The dividend payout ratio of Abbott Laboratories is 44.44%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Abbott Laboratories will have a dividend payout ratio of 36.09% next year. This indicates that Abbott Laboratories will be able to sustain or increase its dividend.

Insiders buying/selling: Abbott Laboratories (NYSE:ABT)

In the past three months, Abbott Laboratories insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $12,220,943.00 in company stock. Only 1.70% of the stock of Abbott Laboratories is held by insiders. 73.09% of the stock of Abbott Laboratories is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Abbott Laboratories (NYSE:ABT

Earnings for Abbott Laboratories are expected to grow by 20.91% in the coming year, from $3.30 to $3.99 per share. The P/E ratio of Abbott Laboratories is 62.64, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 19.72. The P/E ratio of Abbott Laboratories is 62.64, which means that it is trading at a more expensive P/E ratio than the Medical sector average P/E ratio of about 28.61. Abbott Laboratories has a PEG Ratio of 3.02. PEG Ratios above 1 indicate that a company could be overvalued. Abbott Laboratories has a P/B Ratio of 6.12. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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