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AbbVie (ABBV) Gains But Lags Market: What You Should Know
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AbbVie (ABBV - Free Report) closed at $71.25 in the latest trading session, marking a +0.04% move from the prior day. This change lagged the S&P 500's 0.12% gain on the day. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, added 0.54%.
Heading into today, shares of the drugmaker had lost 7.45% over the past month, lagging the Medical sector's gain of 0.92% and the S&P 500's gain of 3.68% in that time.
Investors will be hoping for strength from ABBV as it approaches its next earnings release. 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, our latest consensus estimate is calling for revenue of $8.09 billion, down 2.27% from the prior-year quarter.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $8.78 per share and revenue of $32.79 billion. These results would represent year-over-year changes of +11% and +0.11%, respectively.
Any recent changes to analyst estimates for ABBV should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 0.39% lower. ABBV currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ABBV has a Forward P/E ratio of 8.11 right now. This valuation marks a discount compared to its industry's average Forward P/E of 14.55.
Investors should also note that ABBV has a PEG ratio of 1.46 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ABBV's industry had an average PEG ratio of 2.13 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 78, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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AbbVie (ABBV) Gains But Lags Market: What You Should Know
AbbVie (ABBV - Free Report) closed at $71.25 in the latest trading session, marking a +0.04% move from the prior day. This change lagged the S&P 500's 0.12% gain on the day. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, added 0.54%.
Heading into today, shares of the drugmaker had lost 7.45% over the past month, lagging the Medical sector's gain of 0.92% and the S&P 500's gain of 3.68% in that time.
Investors will be hoping for strength from ABBV as it approaches its next earnings release. 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, our latest consensus estimate is calling for revenue of $8.09 billion, down 2.27% from the prior-year quarter.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $8.78 per share and revenue of $32.79 billion. These results would represent year-over-year changes of +11% and +0.11%, respectively.
Any recent changes to analyst estimates for ABBV should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 0.39% lower. ABBV currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ABBV has a Forward P/E ratio of 8.11 right now. This valuation marks a discount compared to its industry's average Forward P/E of 14.55.
Investors should also note that ABBV has a PEG ratio of 1.46 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ABBV's industry had an average PEG ratio of 2.13 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 78, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.