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AbbVie (ABBV) Gains But Lags Market: What You Should Know
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AbbVie (ABBV - Free Report) closed at $142.24 in the latest trading session, marking a +0.58% move from the prior day. This change lagged the S&P 500's 1.06% gain on the day. Elsewhere, the Dow gained 0.71%, while the tech-heavy Nasdaq added 0.09%.
Heading into today, shares of the drugmaker had lost 0.83% over the past month, outpacing the Medical sector's loss of 1.69% and the S&P 500's loss of 1.14% in that time.
AbbVie will be looking to display strength as it nears its next earnings release. On that day, AbbVie is projected to report earnings of $3.59 per share, which would represent year-over-year growth of 7.81%. Meanwhile, our latest consensus estimate is calling for revenue of $15.06 billion, up 4.99% from the prior-year quarter.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $13.90 per share and revenue of $59.23 billion. These results would represent year-over-year changes of +9.45% and +5.4%, respectively.
Investors should also note any recent changes to analyst estimates for AbbVie. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. AbbVie currently has a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 10.17. This represents a discount compared to its industry's average Forward P/E of 12.79.
Also, we should mention that ABBV has a PEG ratio of 4.01. 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. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.93 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 100, which puts it in the top 40% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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AbbVie (ABBV) Gains But Lags Market: What You Should Know
AbbVie (ABBV - Free Report) closed at $142.24 in the latest trading session, marking a +0.58% move from the prior day. This change lagged the S&P 500's 1.06% gain on the day. Elsewhere, the Dow gained 0.71%, while the tech-heavy Nasdaq added 0.09%.
Heading into today, shares of the drugmaker had lost 0.83% over the past month, outpacing the Medical sector's loss of 1.69% and the S&P 500's loss of 1.14% in that time.
AbbVie will be looking to display strength as it nears its next earnings release. On that day, AbbVie is projected to report earnings of $3.59 per share, which would represent year-over-year growth of 7.81%. Meanwhile, our latest consensus estimate is calling for revenue of $15.06 billion, up 4.99% from the prior-year quarter.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $13.90 per share and revenue of $59.23 billion. These results would represent year-over-year changes of +9.45% and +5.4%, respectively.
Investors should also note any recent changes to analyst estimates for AbbVie. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. AbbVie currently has a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 10.17. This represents a discount compared to its industry's average Forward P/E of 12.79.
Also, we should mention that ABBV has a PEG ratio of 4.01. 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. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.93 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 100, which puts it in the top 40% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.