Analysts Anticipate Abbott Laboratories (ABT) to Post $0.71 EPS

Wall Street brokerages forecast that Abbott Laboratories (NYSE:ABT) will announce earnings of $0.71 per share for the current quarter, according to Zacks. Seven analysts have provided estimates for Abbott Laboratories’ earnings, with the highest EPS estimate coming in at $0.72 and the lowest estimate coming in at $0.70. Abbott Laboratories reported earnings per share of $0.62 during the same quarter last year, which suggests a positive year-over-year growth rate of 14.5%. The company is expected to report its next earnings results before the market opens on Wednesday, July 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 $2.90. For the next year, analysts expect that the firm will post earnings of $3.23 per share, with EPS estimates ranging from $3.15 to $3.31. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Abbott Laboratories.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Abbott Laboratories had a net margin of 1.67% and a return on equity of 14.54%. The firm had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same period last year, the firm posted $0.48 earnings per share. Abbott Laboratories’s revenue for the quarter was up 16.7% compared to the same quarter last year.

A number of research analysts recently weighed in on ABT shares. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Friday, April 20th. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a research report on Sunday, April 22nd. Citigroup lowered their price target on Abbott Laboratories from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, April 24th. ValuEngine upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Sanford C. Bernstein started coverage on Abbott Laboratories in a research report on Wednesday. They issued an “outperform” rating for the company. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Abbott Laboratories has an average rating of “Buy” and an average price target of $69.13.

Abbott Laboratories opened at $60.81 on Friday, MarketBeat Ratings reports. Abbott Laboratories has a fifty-two week low of $47.83 and a fifty-two week high of $64.60. The company has a quick ratio of 1.24, a current ratio of 1.66 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $106.54 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 1.77 and a beta of 1.51.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Friday, July 13th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, July 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.84%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.80%.

In other news, insider Jaime Contreras sold 849 shares of Abbott Laboratories stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $59.36, for a total transaction of $50,396.64. Following the completion of the sale, the insider now directly owns 50,436 shares in the company, valued at $2,993,880.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 3,000 shares of Abbott Laboratories stock in a transaction on Friday, May 18th. The stock was sold at an average price of $61.20, for a total value of $183,600.00. Following the sale, the insider now owns 95,581 shares of the company’s stock, valued at $5,849,557.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,999 shares of company stock valued at $359,901. Corporate insiders own 0.74% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Icon Wealth Partners LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $102,000. SWS Partners bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $104,000. Rainier Group Investment Advisory LLC bought a new stake in shares of Abbott Laboratories in the first quarter valued at about $114,000. Private Ocean LLC raised its holdings in shares of Abbott Laboratories by 9,868.2% in the first quarter. Private Ocean LLC now owns 2,193 shares of the healthcare product maker’s stock valued at $131,000 after acquiring an additional 2,171 shares in the last quarter. Finally, We Are One Seven LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $138,000. Institutional investors and hedge funds own 71.67% of the company’s stock.

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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