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AbbVie (ABBV) Gains As Market Dips: What You Should Know
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In the latest trading session, AbbVie (ABBV - Free Report) closed at $85.62, marking a +0.23% move from the previous day. This change outpaced the S&P 500's 3.17% loss on the day. At the same time, the Dow lost 3.77%, and the tech-heavy Nasdaq lost 2.28%.
Coming into today, shares of the drugmaker had gained 4.45% in the past month. In that same time, the Medical sector lost 6.35%, while the S&P 500 lost 8.05%.
ABBV will be looking to display strength as it nears its next earnings release. In that report, analysts expect ABBV to post earnings of $2.25 per share. This would mark year-over-year growth of 5.14%. Meanwhile, our latest consensus estimate is calling for revenue of $8.35 billion, up 6.69% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.53 per share and revenue of $47.88 billion. These totals would mark changes of +17.79% and +43.93%, respectively, from last year.
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.
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. Within the past 30 days, our consensus EPS projection has moved 12.69% higher. ABBV is currently a Zacks Rank #3 (Hold).
Looking at its valuation, ABBV is holding a Forward P/E ratio of 8.12. This valuation marks a discount compared to its industry's average Forward P/E of 14.41.
Investors should also note that ABBV has a PEG ratio of 1.8 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. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.91 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 26% 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.
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) Gains As Market Dips: What You Should Know
In the latest trading session, AbbVie (ABBV - Free Report) closed at $85.62, marking a +0.23% move from the previous day. This change outpaced the S&P 500's 3.17% loss on the day. At the same time, the Dow lost 3.77%, and the tech-heavy Nasdaq lost 2.28%.
Coming into today, shares of the drugmaker had gained 4.45% in the past month. In that same time, the Medical sector lost 6.35%, while the S&P 500 lost 8.05%.
ABBV will be looking to display strength as it nears its next earnings release. In that report, analysts expect ABBV to post earnings of $2.25 per share. This would mark year-over-year growth of 5.14%. Meanwhile, our latest consensus estimate is calling for revenue of $8.35 billion, up 6.69% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.53 per share and revenue of $47.88 billion. These totals would mark changes of +17.79% and +43.93%, respectively, from last year.
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.
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. Within the past 30 days, our consensus EPS projection has moved 12.69% higher. ABBV is currently a Zacks Rank #3 (Hold).
Looking at its valuation, ABBV is holding a Forward P/E ratio of 8.12. This valuation marks a discount compared to its industry's average Forward P/E of 14.41.
Investors should also note that ABBV has a PEG ratio of 1.8 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. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.91 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 26% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.