Dividend aristocrat Abbott Laboratories (ABT) reports 7.1% revenue growth and 17% growth in adjusted earnings-per-share; announces better-than-expected guidance for Q1.
ABBOTT Posts strong 2019 results
ABT stock rose Wednesday after the medical technology company beat fourth-quarter revenue expectations and issued strong 2020 sales guidance. The stock ended up +2.13 (+2.37%), trading at $91.86.
The Q4-figure met the average estimate of analysts with an adjusted profit of 95 cents per share, up 17% year over year.
ABT issued the following 2020 guidance: “As we look ahead to 2020, we expect another standout year. We announced full-year adjusted earnings-per-share guidance of $3.55 to $3.65 ($2.35 to $2.45 on a GAAP basis), reflecting double-digit growth at the midpoint and organic sales growth of 7.0 to 8.0%.”
At the current price, the forward dividend & yield are 1.44 (1.60%). The 5-year average dividend yield is 2.04%, this indicates the stock looks overvalued today.
Read also our in-focus article on ABT.