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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 $149.04, marking a +0.01% move from the previous day. The stock lagged the S&P 500's daily gain of 0.67%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 1.14%.
Prior to today's trading, shares of the drugmaker had lost 2.08% over the past month. This has lagged the Medical sector's gain of 0.27% and the S&P 500's loss of 0.73% 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 $2.87 per share. This would mark a year-over-year decline of 21.58%. Meanwhile, our latest consensus estimate is calling for revenue of $13.66 billion, down 7.79% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11 per share and revenue of $53.5 billion. These totals would mark changes of -20.12% and -7.85%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for AbbVie. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% lower. AbbVie is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note AbbVie's current valuation metrics, including its Forward P/E ratio of 13.55. This valuation marks a discount compared to its industry's average Forward P/E of 14.23.
Also, we should mention that ABBV has a PEG ratio of 2.71. 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. ABBV's industry had an average PEG ratio of 1.6 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 185, putting it in the bottom 27% 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 $149.04, marking a +0.01% move from the previous day. The stock lagged the S&P 500's daily gain of 0.67%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 1.14%.
Prior to today's trading, shares of the drugmaker had lost 2.08% over the past month. This has lagged the Medical sector's gain of 0.27% and the S&P 500's loss of 0.73% 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 $2.87 per share. This would mark a year-over-year decline of 21.58%. Meanwhile, our latest consensus estimate is calling for revenue of $13.66 billion, down 7.79% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11 per share and revenue of $53.5 billion. These totals would mark changes of -20.12% and -7.85%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for AbbVie. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% lower. AbbVie is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note AbbVie's current valuation metrics, including its Forward P/E ratio of 13.55. This valuation marks a discount compared to its industry's average Forward P/E of 14.23.
Also, we should mention that ABBV has a PEG ratio of 2.71. 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. ABBV's industry had an average PEG ratio of 1.6 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 185, putting it in the bottom 27% 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.