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AbbVie (ABBV) Dips More Than Broader Markets: What You Should Know
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AbbVie (ABBV - Free Report) closed the most recent trading day at $75.84, moving -1.13% from the previous trading session. This move lagged the S&P 500's daily loss of 0.28%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, lost 1.61%.
Coming into today, shares of the drugmaker had lost 1.1% in the past month. In that same time, the Medical sector lost 2.74%, while the S&P 500 lost 6.3%.
Wall Street will be looking for positivity from ABBV as it approaches its next earnings report date. On that day, ABBV is projected to report earnings of $2.21 per share, which would represent year-over-year growth of 10.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.08 billion, down 2.39% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.81 per share and revenue of $32.76 billion, which would represent changes of +11.38% and +0.02%, respectively, from the prior year.
Any recent changes to analyst estimates for ABBV should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ABBV is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that ABBV has a Forward P/E ratio of 8.71 right now. Its industry sports an average Forward P/E of 14.25, so we one might conclude that ABBV is trading at a discount comparatively.
We can also see that ABBV currently has a PEG ratio of 1.57. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ABBV's industry had an average PEG ratio of 2.06 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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AbbVie (ABBV) Dips More Than Broader Markets: What You Should Know
AbbVie (ABBV - Free Report) closed the most recent trading day at $75.84, moving -1.13% from the previous trading session. This move lagged the S&P 500's daily loss of 0.28%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, lost 1.61%.
Coming into today, shares of the drugmaker had lost 1.1% in the past month. In that same time, the Medical sector lost 2.74%, while the S&P 500 lost 6.3%.
Wall Street will be looking for positivity from ABBV as it approaches its next earnings report date. On that day, ABBV is projected to report earnings of $2.21 per share, which would represent year-over-year growth of 10.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.08 billion, down 2.39% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.81 per share and revenue of $32.76 billion, which would represent changes of +11.38% and +0.02%, respectively, from the prior year.
Any recent changes to analyst estimates for ABBV should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ABBV is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that ABBV has a Forward P/E ratio of 8.71 right now. Its industry sports an average Forward P/E of 14.25, so we one might conclude that ABBV is trading at a discount comparatively.
We can also see that ABBV currently has a PEG ratio of 1.57. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ABBV's industry had an average PEG ratio of 2.06 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.