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AbbVie (ABBV) Gains But Lags Market: What You Should Know
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In the latest trading session, AbbVie (ABBV - Free Report) closed at $135.42, marking a +0.01% move from the previous day. The stock lagged the S&P 500's daily gain of 0.64%. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.46%.
Heading into today, shares of the drugmaker had gained 13.93% over the past month, outpacing the Medical sector's gain of 5.28% and the S&P 500's gain of 4.56% in that time.
Wall Street will be looking for positivity from AbbVie as it approaches its next earnings report date. In that report, analysts expect AbbVie to post earnings of $3.22 per share. This would mark year-over-year growth of 10.27%. Our most recent consensus estimate is calling for quarterly revenue of $15.06 billion, up 8.66% from the year-ago period.
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 remained stagnant within the past month. AbbVie currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, AbbVie is holding a Forward P/E ratio of 10.67. This valuation marks a discount compared to its industry's average Forward P/E of 13.91.
Investors should also note that ABBV has a PEG ratio of 2.86 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ABBV's industry had an average PEG ratio of 2.11 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 35% 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) Gains But Lags Market: What You Should Know
In the latest trading session, AbbVie (ABBV - Free Report) closed at $135.42, marking a +0.01% move from the previous day. The stock lagged the S&P 500's daily gain of 0.64%. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.46%.
Heading into today, shares of the drugmaker had gained 13.93% over the past month, outpacing the Medical sector's gain of 5.28% and the S&P 500's gain of 4.56% in that time.
Wall Street will be looking for positivity from AbbVie as it approaches its next earnings report date. In that report, analysts expect AbbVie to post earnings of $3.22 per share. This would mark year-over-year growth of 10.27%. Our most recent consensus estimate is calling for quarterly revenue of $15.06 billion, up 8.66% from the year-ago period.
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 remained stagnant within the past month. AbbVie currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, AbbVie is holding a Forward P/E ratio of 10.67. This valuation marks a discount compared to its industry's average Forward P/E of 13.91.
Investors should also note that ABBV has a PEG ratio of 2.86 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ABBV's industry had an average PEG ratio of 2.11 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 35% 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.