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AbbVie (ABBV) Outpaces Stock Market Gains: What You Should Know
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AbbVie (ABBV - Free Report) closed the most recent trading day at $110.26, moving +1.89% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.65%. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 1.05%.
Prior to today's trading, shares of the drugmaker had gained 4.31% over the past month. This has outpaced the Medical sector's loss of 5.04% and the S&P 500's gain of 0.36% in that time.
Wall Street will be looking for positivity from ABBV as it approaches its next earnings report date. In that report, analysts expect ABBV to post earnings of $2.76 per share. This would mark year-over-year growth of 14.05%. Meanwhile, our latest consensus estimate is calling for revenue of $12.95 billion, up 50.21% from the prior-year quarter.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $12.46 per share and revenue of $55.82 billion. These results would represent year-over-year changes of +17.99% and +21.88%, respectively.
Investors should also note any recent changes to analyst estimates for ABBV. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.05% higher. ABBV is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, ABBV is holding a Forward P/E ratio of 8.68. This represents a discount compared to its industry's average Forward P/E of 12.96.
Investors should also note that ABBV has a PEG ratio of 1.81 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.9 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 219, which puts it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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AbbVie (ABBV) Outpaces Stock Market Gains: What You Should Know
AbbVie (ABBV - Free Report) closed the most recent trading day at $110.26, moving +1.89% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.65%. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 1.05%.
Prior to today's trading, shares of the drugmaker had gained 4.31% over the past month. This has outpaced the Medical sector's loss of 5.04% and the S&P 500's gain of 0.36% in that time.
Wall Street will be looking for positivity from ABBV as it approaches its next earnings report date. In that report, analysts expect ABBV to post earnings of $2.76 per share. This would mark year-over-year growth of 14.05%. Meanwhile, our latest consensus estimate is calling for revenue of $12.95 billion, up 50.21% from the prior-year quarter.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $12.46 per share and revenue of $55.82 billion. These results would represent year-over-year changes of +17.99% and +21.88%, respectively.
Investors should also note any recent changes to analyst estimates for ABBV. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.05% higher. ABBV is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, ABBV is holding a Forward P/E ratio of 8.68. This represents a discount compared to its industry's average Forward P/E of 12.96.
Investors should also note that ABBV has a PEG ratio of 1.81 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.9 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 219, which puts it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.