The trading price of Abbott Laboratories (NYSE:ABT) floating lower at last check on Wednesday, March 13, closing at $120.38, -0.31% lower than its previous close.
The company’s P/E ratio in the trailing 12-month period was 36.86, while its 5Y monthly beta was 0.74. In examining the 52-week price action we see that the stock hit a 52-week high of $121.64 and a 52-week low of $89.67. Over the past month, the stock has gained 6.98% in value.
Abbott Laboratories, whose market valuation is $208.88 billion at the time of this writing, is expected to release its quarterly earnings report Apr 17, 2024 – Apr 22, 2024. The dividend yield on the company stock is 1.73%, while its Forward Dividend ratio is 2.08. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.96 per share this quarter, however they have predicted annual earnings per share of $4.59 for 2024 and $5.11 for 2025. It means analysts are expecting annual earnings per share growth of 3.40% this year and 11.30% next year.
Analysts have forecast the company to bring in revenue of $9.89 billion for the current quarter, with the likely lows of $9.77 billion and highs of $10.17 billion. The average estimate suggests sales will likely up by 11.00% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $42.01 billion. The company’s revenue is forecast to grow by 4.70% over what it did in 2024.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Abbott Laboratories No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest ABT has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 4.73, which symbolizes a positive outlook. A quick review shows that ABT’s price is currently 2.01% off the SMA20 and 4.85% off the SMA50. The RSI metric on the 14-day chart is currently showing 62.19, and weekly volatility stands at 1.27%. When measured over the past 30 days, the indicator reaches 1.56%. Abbott Laboratories (NYSE:ABT)’s beta value is currently sitting at 0.74, while the Average True Range indicator is currently displaying 1.74.
To see how Abbott Laboratories stock has been performing today in comparison to its peers in the industry, here are the numbers: ABT stock’s performance was -0.31% at last check in today’s session, and 22.60% in the past year. Abbott Laboratories has a P/E ratio of 36.86.
An evaluation of the daily trading volume of Abbott Laboratories (NYSE:ABT) indicates that the 3-month average is 5.04 million. However, this figure has increased over the past 10 days to an average of 3.8 million.
Currently, records show that 1.73 billion of the company’s shares remain outstanding. The insiders hold 0.73% of outstanding shares, whereas institutions hold 77.11%. The stats also highlight that short interest as of Feb 29, 2024, stood at 14.92 million shares, resulting in a short ratio of 2.72 at that time. From this, we can conclude that short interest is 0.86% of the company’s total outstanding shares. It is noteworthy that short shares in February were up slightly from the previous month’s figure, which was 12.7 million. However, since the stock’s price has seen 9.37% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
