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AbbVie (ABBV) Gains As Market Dips: What You Should Know
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AbbVie (ABBV - Free Report) closed the most recent trading day at $151.95, moving +1.5% from the previous trading session. This change outpaced the S&P 500's 0.15% loss on the day. Elsewhere, the Dow lost 0.28%, while the tech-heavy Nasdaq added 3.16%.
Heading into today, shares of the drugmaker had lost 1.54% over the past month, outpacing the Medical sector's loss of 5.41% and the S&P 500's loss of 5.39% in that time.
Investors will be hoping for strength from AbbVie as it approaches its next earnings release. In that report, analysts expect AbbVie to post earnings of $2.50 per share. This would mark a year-over-year decline of 20.89%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.04 billion, down 11.09% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.09 per share and revenue of $52.34 billion. These totals would mark changes of -19.46% and -9.85%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for AbbVie. 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.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.42% lower. AbbVie currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that AbbVie has a Forward P/E ratio of 13.5 right now. This valuation marks a discount compared to its industry's average Forward P/E of 13.65.
Also, we should mention that ABBV has a PEG ratio of 3.38. 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 1.57 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 108, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 the most recent trading day at $151.95, moving +1.5% from the previous trading session. This change outpaced the S&P 500's 0.15% loss on the day. Elsewhere, the Dow lost 0.28%, while the tech-heavy Nasdaq added 3.16%.
Heading into today, shares of the drugmaker had lost 1.54% over the past month, outpacing the Medical sector's loss of 5.41% and the S&P 500's loss of 5.39% in that time.
Investors will be hoping for strength from AbbVie as it approaches its next earnings release. In that report, analysts expect AbbVie to post earnings of $2.50 per share. This would mark a year-over-year decline of 20.89%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.04 billion, down 11.09% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.09 per share and revenue of $52.34 billion. These totals would mark changes of -19.46% and -9.85%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for AbbVie. 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.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.42% lower. AbbVie currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that AbbVie has a Forward P/E ratio of 13.5 right now. This valuation marks a discount compared to its industry's average Forward P/E of 13.65.
Also, we should mention that ABBV has a PEG ratio of 3.38. 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 1.57 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 108, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.