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AbbVie (ABBV) Rises As Market Takes a Dip: Key Facts
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The most recent trading session ended with AbbVie (ABBV - Free Report) standing at $172.32, reflecting a +0.69% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.71%. Elsewhere, the Dow saw a downswing of 0.93%, while the tech-heavy Nasdaq depreciated by 0.81%.
The drugmaker's stock has dropped by 0.58% in the past month, falling short of the Medical sector's loss of 0.16% and the S&P 500's gain of 1.08%.
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 July 25, 2024. The company is predicted to post an EPS of $2.64, indicating a 9.28% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $14.05 billion, reflecting a 1.3% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $10.87 per share and a revenue of $55.35 billion, demonstrating changes of -2.16% and +1.89%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for AbbVie. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 past month, the Zacks Consensus EPS estimate has shifted 4.45% downward. Right now, AbbVie possesses a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is presently being traded at a Forward P/E ratio of 15.74. This denotes a premium relative to the industry's average Forward P/E of 15.44.
Meanwhile, ABBV's PEG ratio is currently 2.19. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.76 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 178, this industry ranks in the bottom 30% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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AbbVie (ABBV) Rises As Market Takes a Dip: Key Facts
The most recent trading session ended with AbbVie (ABBV - Free Report) standing at $172.32, reflecting a +0.69% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.71%. Elsewhere, the Dow saw a downswing of 0.93%, while the tech-heavy Nasdaq depreciated by 0.81%.
The drugmaker's stock has dropped by 0.58% in the past month, falling short of the Medical sector's loss of 0.16% and the S&P 500's gain of 1.08%.
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 July 25, 2024. The company is predicted to post an EPS of $2.64, indicating a 9.28% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $14.05 billion, reflecting a 1.3% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $10.87 per share and a revenue of $55.35 billion, demonstrating changes of -2.16% and +1.89%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for AbbVie. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 past month, the Zacks Consensus EPS estimate has shifted 4.45% downward. Right now, AbbVie possesses a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is presently being traded at a Forward P/E ratio of 15.74. This denotes a premium relative to the industry's average Forward P/E of 15.44.
Meanwhile, ABBV's PEG ratio is currently 2.19. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.76 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 178, this industry ranks in the bottom 30% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.