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AbbVie (ABBV) Suffers a Larger Drop Than the General Market: Key Insights
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AbbVie (ABBV - Free Report) closed the most recent trading day at $195.45, moving -0.7% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.44%, and the technology-centric Nasdaq decreased by 0.04%.
Coming into today, shares of the drugmaker had lost 0.1% in the past month. In that same time, the Medical sector lost 3.8%, while the S&P 500 gained 1.25%.
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 30, 2024. On that day, AbbVie is projected to report earnings of $2.95 per share, which would represent no growth from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $14.25 billion, showing a 2.31% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.87 per share and revenue of $55.8 billion, indicating changes of -2.16% and +2.73%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for AbbVie. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, AbbVie possesses a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 18.11. This indicates a premium in contrast to its industry's Forward P/E of 15.69.
Meanwhile, ABBV's PEG ratio is currently 2.69. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.65.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 13% of all 250+ industries.
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.
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) Suffers a Larger Drop Than the General Market: Key Insights
AbbVie (ABBV - Free Report) closed the most recent trading day at $195.45, moving -0.7% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.44%, and the technology-centric Nasdaq decreased by 0.04%.
Coming into today, shares of the drugmaker had lost 0.1% in the past month. In that same time, the Medical sector lost 3.8%, while the S&P 500 gained 1.25%.
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 30, 2024. On that day, AbbVie is projected to report earnings of $2.95 per share, which would represent no growth from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $14.25 billion, showing a 2.31% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.87 per share and revenue of $55.8 billion, indicating changes of -2.16% and +2.73%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for AbbVie. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, AbbVie possesses a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 18.11. This indicates a premium in contrast to its industry's Forward P/E of 15.69.
Meanwhile, ABBV's PEG ratio is currently 2.69. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.65.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 13% of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.