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AbbVie (ABBV) Gains As Market Dips: What You Should Know
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AbbVie (ABBV - Free Report) closed at $131.78 in the latest trading session, marking a +1.19% move from the prior day. This move outpaced the S&P 500's daily loss of 0.87%. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, lost 0.43%.
Coming into today, shares of the drugmaker had gained 10.98% in the past month. In that same time, the Medical sector lost 0.67%, while the S&P 500 gained 0.7%.
Wall Street will be looking for positivity from AbbVie as it approaches its next earnings report date. The company is expected to report EPS of $3.31, up 13.36% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $15.06 billion, up 8.66% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.69 per share and revenue of $56.28 billion, which would represent changes of +20.17% and +22.86%, respectively, from the prior year.
Any recent changes to analyst estimates for AbbVie should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. AbbVie currently has a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 10.27. For comparison, its industry has an average Forward P/E of 13.55, which means AbbVie is trading at a discount to the group.
Also, we should mention that ABBV has a PEG ratio of 2.75. 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. ABBV's industry had an average PEG ratio of 2.07 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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.
To follow ABBV in the coming trading sessions, be sure to utilize Zacks.com.
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AbbVie (ABBV) Gains As Market Dips: What You Should Know
AbbVie (ABBV - Free Report) closed at $131.78 in the latest trading session, marking a +1.19% move from the prior day. This move outpaced the S&P 500's daily loss of 0.87%. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, lost 0.43%.
Coming into today, shares of the drugmaker had gained 10.98% in the past month. In that same time, the Medical sector lost 0.67%, while the S&P 500 gained 0.7%.
Wall Street will be looking for positivity from AbbVie as it approaches its next earnings report date. The company is expected to report EPS of $3.31, up 13.36% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $15.06 billion, up 8.66% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.69 per share and revenue of $56.28 billion, which would represent changes of +20.17% and +22.86%, respectively, from the prior year.
Any recent changes to analyst estimates for AbbVie should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. AbbVie currently has a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 10.27. For comparison, its industry has an average Forward P/E of 13.55, which means AbbVie is trading at a discount to the group.
Also, we should mention that ABBV has a PEG ratio of 2.75. 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. ABBV's industry had an average PEG ratio of 2.07 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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.
To follow ABBV in the coming trading sessions, be sure to utilize Zacks.com.