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AbbVie (ABBV) Stock Slides as Market Rises: Facts to Know Before You Trade
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The most recent trading session ended with AbbVie (ABBV - Free Report) standing at $180.57, reflecting a -0.27% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 1.03%. Elsewhere, the Dow saw an upswing of 0.34%, while the tech-heavy Nasdaq appreciated by 1.51%.
Heading into today, shares of the drugmaker had gained 3.46% over the past month, outpacing the Medical sector's gain of 2.1% and the S&P 500's gain of 3.21% in that time.
Investors will be eagerly watching for the performance of AbbVie in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.34, signifying a 4.88% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.94 billion, down 2.31% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.16 per share and a revenue of $54.5 billion, indicating changes of +0.45% and +0.33%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for AbbVie. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.05% higher within the past month. At present, AbbVie boasts a Zacks Rank of #3 (Hold).
Digging into valuation, AbbVie currently has a Forward P/E ratio of 16.22. This valuation marks a premium compared to its industry's average Forward P/E of 14.43.
It is also worth noting that ABBV currently has a PEG ratio of 2.3. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 1.71.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 171, finds itself in the bottom 33% echelons 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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AbbVie (ABBV) Stock Slides as Market Rises: Facts to Know Before You Trade
The most recent trading session ended with AbbVie (ABBV - Free Report) standing at $180.57, reflecting a -0.27% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 1.03%. Elsewhere, the Dow saw an upswing of 0.34%, while the tech-heavy Nasdaq appreciated by 1.51%.
Heading into today, shares of the drugmaker had gained 3.46% over the past month, outpacing the Medical sector's gain of 2.1% and the S&P 500's gain of 3.21% in that time.
Investors will be eagerly watching for the performance of AbbVie in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.34, signifying a 4.88% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.94 billion, down 2.31% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.16 per share and a revenue of $54.5 billion, indicating changes of +0.45% and +0.33%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for AbbVie. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.05% higher within the past month. At present, AbbVie boasts a Zacks Rank of #3 (Hold).
Digging into valuation, AbbVie currently has a Forward P/E ratio of 16.22. This valuation marks a premium compared to its industry's average Forward P/E of 14.43.
It is also worth noting that ABBV currently has a PEG ratio of 2.3. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 1.71.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 171, finds itself in the bottom 33% echelons 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.