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AbbVie (ABBV) Stock Moves -1.09%: What You Should Know
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AbbVie (ABBV - Free Report) closed the most recent trading day at $138.76, moving -1.09% from the previous trading session. This move was narrower than the S&P 500's daily loss of 2.8%. Meanwhile, the Dow lost 2.11%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Prior to today's trading, shares of the drugmaker had lost 0.16% over the past month. This has was narrower than the Medical sector's loss of 1.18% and the S&P 500's loss of 4.08% in that time.
Investors will be hoping for strength from AbbVie as it approaches its next earnings release, which is expected to be October 28, 2022. The company is expected to report EPS of $3.59, up 7.81% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.96 billion, up 4.3% from the year-ago period.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $13.90 per share and revenue of $59.1 billion. These results would represent year-over-year changes of +9.45% and +5.17%, respectively.
Investors should also note any recent changes to analyst estimates for AbbVie. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 1.37% lower. AbbVie is currently a Zacks Rank #3 (Hold).
Digging into valuation, AbbVie currently has a Forward P/E ratio of 10.09. Its industry sports an average Forward P/E of 12.22, so we one might conclude that AbbVie is trading at a discount comparatively.
Also, we should mention that ABBV has a PEG ratio of 3.98. 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. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.7 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% 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.
To follow ABBV in the coming trading sessions, be sure to utilize Zacks.com.
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AbbVie (ABBV) Stock Moves -1.09%: What You Should Know
AbbVie (ABBV - Free Report) closed the most recent trading day at $138.76, moving -1.09% from the previous trading session. This move was narrower than the S&P 500's daily loss of 2.8%. Meanwhile, the Dow lost 2.11%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Prior to today's trading, shares of the drugmaker had lost 0.16% over the past month. This has was narrower than the Medical sector's loss of 1.18% and the S&P 500's loss of 4.08% in that time.
Investors will be hoping for strength from AbbVie as it approaches its next earnings release, which is expected to be October 28, 2022. The company is expected to report EPS of $3.59, up 7.81% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.96 billion, up 4.3% from the year-ago period.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $13.90 per share and revenue of $59.1 billion. These results would represent year-over-year changes of +9.45% and +5.17%, respectively.
Investors should also note any recent changes to analyst estimates for AbbVie. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 1.37% lower. AbbVie is currently a Zacks Rank #3 (Hold).
Digging into valuation, AbbVie currently has a Forward P/E ratio of 10.09. Its industry sports an average Forward P/E of 12.22, so we one might conclude that AbbVie is trading at a discount comparatively.
Also, we should mention that ABBV has a PEG ratio of 3.98. 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. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.7 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% 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.
To follow ABBV in the coming trading sessions, be sure to utilize Zacks.com.