Zacks: Analysts Expect Abbott Laboratories (ABT) to Announce $0.58 Earnings Per Share

Equities research analysts forecast that Abbott Laboratories (NYSE:ABT) will announce earnings per share (EPS) of $0.58 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided 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 in the same quarter last year, which indicates a positive year-over-year growth rate of 20.8%. The firm is expected to issue its next earnings results before the market opens on Wednesday, April 18th.

On average, analysts expect that Abbott Laboratories will report full-year earnings of $2.86 per share for the current year, with EPS estimates ranging from $2.85 to $2.89. For the next financial year, analysts anticipate that the company will post earnings of $3.22 per share, with EPS estimates ranging from $3.15 to $3.30. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Abbott Laboratories.

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Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The company had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. During the same period in the prior year, the company posted $0.65 EPS. The firm’s quarterly revenue was up 42.3% compared to the same quarter last year.

ABT has been the topic of several recent analyst reports. Zacks Investment Research lowered Abbott Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Morgan Stanley raised Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price objective on the stock in a report on Tuesday, January 2nd. JPMorgan Chase raised Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price objective on the stock in a report on Tuesday, January 2nd. Evercore ISI initiated coverage on Abbott Laboratories in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 price objective on the stock. Finally, Barclays reissued a “buy” rating and issued a $66.00 price objective on shares of Abbott Laboratories in a report on Monday, January 8th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $65.47.

NYSE:ABT traded up $0.92 during mid-day trading on Monday, hitting $59.41. 2,363,739 shares of the company’s stock traded hands, compared to its average volume of 7,000,214. Abbott Laboratories has a twelve month low of $42.31 and a twelve month high of $64.60. The firm has a market capitalization of $102,143.08, a P/E ratio of 23.76, a P/E/G ratio of 1.73 and a beta of 1.49. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.86.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be paid a $0.28 dividend. The ex-dividend date is Thursday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.89%. Abbott Laboratories’s payout ratio is 44.80%.

In other news, insider Brian J. Blaser sold 27,733 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $62.26, for a total value of $1,726,656.58. Following the sale, the insider now owns 156,587 shares in the company, valued at $9,749,106.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Roger Bird sold 8,262 shares of the company’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $62.75, for a total value of $518,440.50. Following the completion of the sale, the insider now owns 58,574 shares in the company, valued at approximately $3,675,518.50. The disclosure for this sale can be found here. Insiders sold 124,261 shares of company stock worth $7,559,987 in the last 90 days. Company insiders own 0.74% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Keel Point LLC boosted its position in Abbott Laboratories by 2.2% during the second quarter. Keel Point LLC now owns 13,580 shares of the healthcare product maker’s stock worth $660,000 after purchasing an additional 294 shares in the last quarter. Simmons Bank boosted its position in Abbott Laboratories by 1.5% during the second quarter. Simmons Bank now owns 23,978 shares of the healthcare product maker’s stock worth $1,166,000 after purchasing an additional 343 shares in the last quarter. Hutner Capital Management Inc. boosted its position in Abbott Laboratories by 1.0% during the second quarter. Hutner Capital Management Inc. now owns 42,298 shares of the healthcare product maker’s stock worth $2,056,000 after purchasing an additional 411 shares in the last quarter. South Texas Money Management Ltd. boosted its position in Abbott Laboratories by 5.7% during the second quarter. South Texas Money Management Ltd. now owns 8,195 shares of the healthcare product maker’s stock worth $398,000 after purchasing an additional 444 shares in the last quarter. Finally, National Asset Management Inc. boosted its position in Abbott Laboratories by 2.4% during the second quarter. National Asset Management Inc. now owns 20,413 shares of the healthcare product maker’s stock worth $993,000 after purchasing an additional 473 shares in the last quarter. Hedge funds and other institutional investors own 72.34% of the company’s stock.

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About Abbott Laboratories

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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