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AbbVie (ABBV) Stock Moves 0.06%: What You Should Know
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AbbVie (ABBV - Free Report) closed at $161.38 in the latest trading session, marking a +0.06% move from the prior day. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq added 1.92%.
Prior to today's trading, shares of the drugmaker had gained 6.14% over the past month. This has lagged the Medical sector's gain of 6.4% and the S&P 500's gain of 6.51% in that time.
AbbVie will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2023. In that report, analysts expect AbbVie to post earnings of $2.49 per share. This would mark a year-over-year decline of 21.2%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.04 billion, down 11.07% from the year-ago period.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $10.97 per share and revenue of $52.39 billion. These results would represent year-over-year changes of -20.33% and -9.75%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 0.36% lower within the past month. AbbVie is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 14.7. Its industry sports an average Forward P/E of 14.67, so we one might conclude that AbbVie is trading at a premium comparatively.
We can also see that ABBV currently has a PEG ratio of 3.67. 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. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.72 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 90, which puts it in the top 36% 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) Stock Moves 0.06%: What You Should Know
AbbVie (ABBV - Free Report) closed at $161.38 in the latest trading session, marking a +0.06% move from the prior day. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq added 1.92%.
Prior to today's trading, shares of the drugmaker had gained 6.14% over the past month. This has lagged the Medical sector's gain of 6.4% and the S&P 500's gain of 6.51% in that time.
AbbVie will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2023. In that report, analysts expect AbbVie to post earnings of $2.49 per share. This would mark a year-over-year decline of 21.2%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.04 billion, down 11.07% from the year-ago period.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $10.97 per share and revenue of $52.39 billion. These results would represent year-over-year changes of -20.33% and -9.75%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 0.36% lower within the past month. AbbVie is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 14.7. Its industry sports an average Forward P/E of 14.67, so we one might conclude that AbbVie is trading at a premium comparatively.
We can also see that ABBV currently has a PEG ratio of 3.67. 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. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.72 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 90, which puts it in the top 36% 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.