$0.73 EPS Expected for Abbott Laboratories (ABT) This Quarter
Wall Street analysts forecast that Abbott Laboratories (NYSE:ABT) will post earnings of $0.73 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made 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 suggests a positive year-over-year growth rate of 12.3%. The firm is expected to announce its next quarterly earnings results on Wednesday, January 24th.
On average, analysts expect that Abbott Laboratories will report full-year earnings of $2.49 per share for the current fiscal year, with EPS estimates ranging from $2.47 to $2.50. For the next financial year, analysts forecast that the firm will post earnings of $2.83 per share, with EPS estimates ranging from $2.80 to $2.85. Zacks’ EPS averages are an average based on a survey of analysts that that provide coverage for Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same quarter in the previous year, the company posted $0.59 EPS. The business’s revenue was up 28.8% on a year-over-year basis.
Abbott Laboratories (ABT) traded down $0.13 during midday trading on Friday, hitting $54.66. The company’s stock had a trading volume of 7,828,595 shares, compared to its average volume of 6,609,666. Abbott Laboratories has a 1 year low of $37.42 and a 1 year high of $56.69. The company has a market cap of $95,228.27, a price-to-earnings ratio of 22.70, a PEG ratio of 2.05 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $1.06 annualized dividend and a dividend yield of 1.94%. Abbott Laboratories’s payout ratio is 83.47%.
In related news, insider Jaime Contreras sold 52,700 shares of the company’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the sale, the insider now owns 58,739 shares in the company, valued at approximately $3,052,665.83. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $52.95, for a total value of $3,307,257.00. Following the transaction, the insider now directly owns 113,426 shares in the company, valued at $6,005,906.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 311,127 shares of company stock worth $16,958,579. 0.76% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Tributary Capital Management LLC acquired a new position in Abbott Laboratories during the 3rd quarter worth approximately $106,000. Heritage Trust Co raised its stake in shares of Abbott Laboratories by 10.1% in the second 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. Winfield Associates Inc. raised its stake in shares of Abbott Laboratories by 3.9% in the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after purchasing an additional 89 shares during the last quarter. Thompson Davis & CO. Inc. raised its stake in shares of Abbott Laboratories by 17.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after purchasing an additional 370 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its stake in shares of Abbott Laboratories by 349.0% in the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after purchasing an additional 2,094 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.
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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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