Zacks: Brokerages Expect Abbott Laboratories (ABT) to Announce $0.74 Earnings Per Share
Wall Street analysts expect that Abbott Laboratories (NYSE:ABT) will announce earnings per share (EPS) of $0.74 for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Abbott Laboratories’ earnings, with the highest EPS estimate coming in at $0.75 and the lowest estimate coming in at $0.73. Abbott Laboratories posted earnings per share of $0.66 during the same quarter last year, which indicates a positive year-over-year growth rate of 12.1%. The company is scheduled to report its next quarterly earnings results before the market opens on Wednesday, October 17th.
On average, analysts expect that Abbott Laboratories will report full-year earnings of $2.88 per share for the current fiscal year, with EPS estimates ranging from $2.85 to $2.90. For the next financial year, analysts anticipate that the business will report earnings of $3.24 per share, with EPS estimates ranging from $3.15 to $3.30. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Abbott Laboratories had a return on equity of 15.30% and a net margin of 3.13%. The business had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.71 billion. During the same period in the prior year, the business earned $0.62 EPS. Abbott Laboratories’s revenue for the quarter was up 17.0% compared to the same quarter last year.
NYSE ABT traded up $2.46 during trading hours on Wednesday, reaching $71.51. 701,934 shares of the company’s stock were exchanged, compared to its average volume of 4,604,017. Abbott Laboratories has a one year low of $51.50 and a one year high of $69.25. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.58. The stock has a market cap of $121.14 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 1.93 and a beta of 1.49.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.57%. Abbott Laboratories’s dividend payout ratio is currently 44.80%.
In related news, EVP Brian J. Blaser sold 15,100 shares of the firm’s stock in a transaction on Tuesday, July 24th. The shares were sold at an average price of $63.96, for a total value of $965,796.00. Following the completion of the transaction, the executive vice president now directly owns 151,718 shares of the company’s stock, valued at $9,703,883.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sharon J. Bracken sold 615 shares of the firm’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $65.16, for a total transaction of $40,073.40. Following the completion of the transaction, the insider now directly owns 40,761 shares of the company’s stock, valued at $2,655,986.76. The disclosure for this sale can be found here. Insiders have sold a total of 148,589 shares of company stock valued at $9,998,590 over the last ninety days. Company insiders own 0.74% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Waters Parkerson & CO. LLC raised its stake in Abbott Laboratories by 0.4% in the 1st quarter. Waters Parkerson & CO. LLC now owns 523,452 shares of the healthcare product maker’s stock worth $31,365,000 after acquiring an additional 1,902 shares during the last quarter. Exencial Wealth Advisors LLC raised its stake in Abbott Laboratories by 10.7% in the 1st quarter. Exencial Wealth Advisors LLC now owns 47,756 shares of the healthcare product maker’s stock worth $2,862,000 after acquiring an additional 4,614 shares during the last quarter. Usca Ria LLC raised its stake in Abbott Laboratories by 16.3% in the 1st quarter. Usca Ria LLC now owns 21,394 shares of the healthcare product maker’s stock worth $1,282,000 after acquiring an additional 2,995 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Abbott Laboratories by 18.7% in the 1st quarter. Venturi Wealth Management LLC now owns 12,695 shares of the healthcare product maker’s stock worth $761,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Sector Gamma AS raised its stake in Abbott Laboratories by 2.4% in the 1st quarter. Sector Gamma AS now owns 1,105,642 shares of the healthcare product maker’s stock worth $66,250,000 after acquiring an additional 25,800 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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