The upcoming report from Abbott (ABT) is expected to reveal quarterly earnings of $1.19 per share, indicating an increase of 15.5% compared to the year-ago period. Analysts forecast revenues of $10.17 billion, representing an increase of 0.8% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 3.7% to its current level. This demonstrates the covering analysts’ collective reassessment of their initial projections during this period.
Prior to a company’s earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it’s common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts’ forecasts for key metrics can yield valuable insights.
That said, let’s delve into the average estimates of some Abbott metrics that Wall Street analysts commonly model and monitor.
The collective assessment of analysts points to an estimated ‘Net sales- Nutrition’ of $2.03 billion. The estimate points to a change of +11.7% from the year-ago quarter.
The consensus estimate for ‘Net sales- Medical Devices- Diabetes Care’ stands at $1.47 billion. The estimate points to a change of +15.8% from the year-ago quarter.
The consensus among analysts is that ‘Net sales- Diagnostics’ will reach $2.57 billion. The estimate points to a change of -22.2% from the year-ago quarter.
According to the collective judgment of analysts, ‘Net sales- Established Pharmaceuticals’ should come in at $1.29 billion. The estimate indicates a year-over-year change of +6.3%.
The average prediction of analysts places ‘Net sales- Diagnostics- U.S.’ at $1.12 billion. The estimate indicates a change of -34% from the prior-year quarter.
Analysts expect ‘Net sales- Diagnostics- International’ to come in at $1.46 billion. The estimate suggests a change of -9.3% year over year.
Analysts predict that the ‘Net sales- Nutrition- International’ will reach $1.11 billion. The estimate points to a change of +8.5% from the year-ago quarter.
Analysts’ assessment points toward ‘Net sales- Nutrition- U.S.’ reaching $925.35 million. The estimate points to a change of +16.4% from the year-ago quarter.
Analysts forecast ‘Net sales- Medical Devices- Neuromodulation- International’ to reach $43.75 million. The estimate suggests a change of +12.2% year over year.
The combined assessment of analysts suggests that ‘Net sales- Medical Devices- Rhythm Management- U.S.’ will likely reach $274.15 million. The estimate indicates a change of +7.9% from the prior-year quarter.
It is projected by analysts that the ‘Net sales- Medical Devices- Rhythm Management- International’ will reach $287.51 million. The estimate indicates a year-over-year change of +10.6%.
Based on the collective assessment of analysts, ‘Net sales- Medical Devices- Structural Heart- U.S.’ should arrive at $237.75 million. The estimate indicates a change of +11.1% from the prior-year quarter.
View all Key Company Metrics for Abbott here>>>
Over the past month, shares of Abbott have returned +5.1% versus the Zacks S&P 500 composite’s +0.9% change. Currently, ABT carries a Zacks Rank #2 (Buy), suggesting that it may outperform the overall market in the near future. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
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