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AbbVie (ABBV - Free Report) closed the latest trading day at $149.11, indicating a +0.59% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 0.63%. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw an increase of 0.39%.
The drugmaker's shares have seen a decrease of 0.52% over the last month, surpassing the Medical sector's loss of 1.62% and the S&P 500's loss of 3.39%.
The investment community will be closely monitoring the performance of AbbVie in its forthcoming earnings report. The company is scheduled to release its earnings on October 27, 2023. The company is expected to report EPS of $2.87, down 21.58% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $13.66 billion, showing a 7.77% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.01 per share and revenue of $53.49 billion. These totals would mark changes of -20.04% and -7.87%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for AbbVie. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.45% lower. Currently, AbbVie is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 13.46. This valuation marks a discount compared to its industry's average Forward P/E of 13.98.
We can additionally observe that ABBV currently boasts a PEG ratio of 2.69. 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. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 1.7.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 217, this industry ranks in the bottom 14% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Rises Yet Lags Behind Market: Some Facts Worth Knowing
AbbVie (ABBV - Free Report) closed the latest trading day at $149.11, indicating a +0.59% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 0.63%. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw an increase of 0.39%.
The drugmaker's shares have seen a decrease of 0.52% over the last month, surpassing the Medical sector's loss of 1.62% and the S&P 500's loss of 3.39%.
The investment community will be closely monitoring the performance of AbbVie in its forthcoming earnings report. The company is scheduled to release its earnings on October 27, 2023. The company is expected to report EPS of $2.87, down 21.58% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $13.66 billion, showing a 7.77% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.01 per share and revenue of $53.49 billion. These totals would mark changes of -20.04% and -7.87%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for AbbVie. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.45% lower. Currently, AbbVie is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 13.46. This valuation marks a discount compared to its industry's average Forward P/E of 13.98.
We can additionally observe that ABBV currently boasts a PEG ratio of 2.69. 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. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 1.7.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 217, this industry ranks in the bottom 14% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.