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AbbVie (ABBV) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, AbbVie (ABBV - Free Report) closed at $75.27, marking a -0.61% move from the previous day. This change lagged the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 0.33%.
Coming into today, shares of the drugmaker had lost 11.19% in the past month. In that same time, the Medical sector lost 8.16%, while the S&P 500 lost 10.5%.
ABBV will be looking to display strength as it nears its next earnings release, which is expected to be May 1, 2020. On that day, ABBV is projected to report earnings of $2.25 per share, which would represent year-over-year growth of 5.14%. Our most recent consensus estimate is calling for quarterly revenue of $8.35 billion, up 6.69% from the year-ago period.
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.
Investors should also note any recent changes to analyst estimates for ABBV. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ABBV is currently a Zacks Rank #2 (Buy).
Looking at its valuation, ABBV is holding a Forward P/E ratio of 7.2. This represents a discount compared to its industry's average Forward P/E of 14.09.
Investors should also note that ABBV has a PEG ratio of 1.6 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.83 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, AbbVie (ABBV - Free Report) closed at $75.27, marking a -0.61% move from the previous day. This change lagged the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 0.33%.
Coming into today, shares of the drugmaker had lost 11.19% in the past month. In that same time, the Medical sector lost 8.16%, while the S&P 500 lost 10.5%.
ABBV will be looking to display strength as it nears its next earnings release, which is expected to be May 1, 2020. On that day, ABBV is projected to report earnings of $2.25 per share, which would represent year-over-year growth of 5.14%. Our most recent consensus estimate is calling for quarterly revenue of $8.35 billion, up 6.69% from the year-ago period.
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.
Investors should also note any recent changes to analyst estimates for ABBV. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ABBV is currently a Zacks Rank #2 (Buy).
Looking at its valuation, ABBV is holding a Forward P/E ratio of 7.2. This represents a discount compared to its industry's average Forward P/E of 14.09.
Investors should also note that ABBV has a PEG ratio of 1.6 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.83 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.