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AbbVie (ABBV) Gains As Market Dips: What You Should Know
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AbbVie (ABBV - Free Report) closed at $153.23 in the latest trading session, marking a +0.25% move from the prior day. This change outpaced the S&P 500's 1.15% loss on the day. Meanwhile, the Dow lost 0.52%, and the Nasdaq, a tech-heavy index, lost 0.34%.
Prior to today's trading, shares of the drugmaker had gained 6.74% over the past month. This has outpaced the Medical sector's gain of 0.72% and the S&P 500's loss of 5.08% in that time.
Investors will be hoping for strength from AbbVie as it approaches its next earnings release, which is expected to be July 29, 2022. The company is expected to report EPS of $3.41, up 9.65% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $14.66 billion, up 4.99% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14 per share and revenue of $59.63 billion, which would represent changes of +10.24% and +6.11%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for AbbVie. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.39% lower. AbbVie is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note AbbVie's current valuation metrics, including its Forward P/E ratio of 10.92. This represents a discount compared to its industry's average Forward P/E of 13.02.
Meanwhile, ABBV's PEG ratio is currently 4.31. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.96 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 197, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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AbbVie (ABBV) Gains As Market Dips: What You Should Know
AbbVie (ABBV - Free Report) closed at $153.23 in the latest trading session, marking a +0.25% move from the prior day. This change outpaced the S&P 500's 1.15% loss on the day. Meanwhile, the Dow lost 0.52%, and the Nasdaq, a tech-heavy index, lost 0.34%.
Prior to today's trading, shares of the drugmaker had gained 6.74% over the past month. This has outpaced the Medical sector's gain of 0.72% and the S&P 500's loss of 5.08% in that time.
Investors will be hoping for strength from AbbVie as it approaches its next earnings release, which is expected to be July 29, 2022. The company is expected to report EPS of $3.41, up 9.65% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $14.66 billion, up 4.99% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14 per share and revenue of $59.63 billion, which would represent changes of +10.24% and +6.11%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for AbbVie. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.39% lower. AbbVie is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note AbbVie's current valuation metrics, including its Forward P/E ratio of 10.92. This represents a discount compared to its industry's average Forward P/E of 13.02.
Meanwhile, ABBV's PEG ratio is currently 4.31. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.96 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 197, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.