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The Zacks Medical sector has performed slightly better than the S&P 500 YTD, down 18.7% vs. the general market’s roughly 20% decline.
A titan in the realm, AbbVie (ABBV - Free Report) , is on deck to unveil Q3 earnings on October 28th, before the market open.
AbbVie enjoys leadership positions in key therapeutic areas, including immunology, hematologic oncology, neuroscience, aesthetics, eye care, and women’s health.
Currently, the medical giant carries a Zacks Rank #3 (Hold) with an overall VGM Score of a B.
How does everything else stack up? Let’s take a closer look.
Share Performance & Valuation
AbbVie shares have been a bright spot in a dim market year-to-date, up a double-digit 17% and easily crushing the S&P 500’s performance.
Image Source: Zacks Investment Research
Over the last three months, ABBV shares have continued on their market-beating trajectory, up roughly 3% vs. the S&P 500’s 6% decline.
Image Source: Zacks Investment Research
The relative strength ABBV shares have displayed is undoubtedly a highlight in a historically-volatile 2022, indicating that buyers have been present all year long.
ABBV’s current forward earnings multiple of 10.9X is modestly above its five-year median but reflects a steep 51% discount relative to the Zacks Medical sector average.
Further, the company sports a Style Score of a B for Value.
Image Source: Zacks Investment Research
Quarterly Estimates
Analysts have lowered their earnings outlook for the quarter, with four negative earnings estimate revisions hitting the tape over the last several months. Still, the Zacks Consensus EPS Estimate of $3.56 indicates Y/Y earnings growth of nearly 7%.
Image Source: Zacks Investment Research
AbbVie’s top-line also appears to be in solid standing; the Zacks Consensus Sales Estimate of $14.9 billion suggests revenue growth of roughly 4% from year-ago quarterly sales of $14.3 billion.
Quarterly Performance & Market Reactions
AbbVie has consistently surprised on the bottom-line as of late, chaining together four consecutive quarters of exceeding the Zacks Consensus EPS Estimate. Just in its latest earnings release, ABBV registered a 1.8% EPS beat.
Revenue results paint a strikingly different story; ABBV has fallen short of top-line estimates in four consecutive quarters. Still, it’s worth noting that none of the revenue misses have been above 1%.
Image Source: Zacks Investment Research
In addition, it’s worth noting that the market didn’t react well in response to the company’s latest quarterly report; shares moved downwards by roughly 6% following the print.
Putting Everything Together
ABBV shares have been notably strong in 2022, well in the green and widely outperforming the S&P 500.
The company’s forward earnings multiple sits modestly above its five-year median, with the company carrying a Style Score of a B for Value.
Analysts have been bearish in their earnings outlook, with estimates suggesting Y/Y upticks in both revenue and earnings.
ABBV has strung together a nice streak of EPS beats, but top-line results have come in under expectations as of late.
Heading into the print, AbbVie (ABBV - Free Report) carries a Zacks Rank #3 (Hold) with an Earnings ESP Score of -0.04%.
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AbbVie Q3 Preview: Can Shares Continue Their Run?
The Zacks Medical sector has performed slightly better than the S&P 500 YTD, down 18.7% vs. the general market’s roughly 20% decline.
A titan in the realm, AbbVie (ABBV - Free Report) , is on deck to unveil Q3 earnings on October 28th, before the market open.
AbbVie enjoys leadership positions in key therapeutic areas, including immunology, hematologic oncology, neuroscience, aesthetics, eye care, and women’s health.
Currently, the medical giant carries a Zacks Rank #3 (Hold) with an overall VGM Score of a B.
How does everything else stack up? Let’s take a closer look.
Share Performance & Valuation
AbbVie shares have been a bright spot in a dim market year-to-date, up a double-digit 17% and easily crushing the S&P 500’s performance.
Image Source: Zacks Investment Research
Over the last three months, ABBV shares have continued on their market-beating trajectory, up roughly 3% vs. the S&P 500’s 6% decline.
Image Source: Zacks Investment Research
The relative strength ABBV shares have displayed is undoubtedly a highlight in a historically-volatile 2022, indicating that buyers have been present all year long.
ABBV’s current forward earnings multiple of 10.9X is modestly above its five-year median but reflects a steep 51% discount relative to the Zacks Medical sector average.
Further, the company sports a Style Score of a B for Value.
Image Source: Zacks Investment Research
Quarterly Estimates
Analysts have lowered their earnings outlook for the quarter, with four negative earnings estimate revisions hitting the tape over the last several months. Still, the Zacks Consensus EPS Estimate of $3.56 indicates Y/Y earnings growth of nearly 7%.
Image Source: Zacks Investment Research
AbbVie’s top-line also appears to be in solid standing; the Zacks Consensus Sales Estimate of $14.9 billion suggests revenue growth of roughly 4% from year-ago quarterly sales of $14.3 billion.
Quarterly Performance & Market Reactions
AbbVie has consistently surprised on the bottom-line as of late, chaining together four consecutive quarters of exceeding the Zacks Consensus EPS Estimate. Just in its latest earnings release, ABBV registered a 1.8% EPS beat.
Revenue results paint a strikingly different story; ABBV has fallen short of top-line estimates in four consecutive quarters. Still, it’s worth noting that none of the revenue misses have been above 1%.
Image Source: Zacks Investment Research
In addition, it’s worth noting that the market didn’t react well in response to the company’s latest quarterly report; shares moved downwards by roughly 6% following the print.
Putting Everything Together
ABBV shares have been notably strong in 2022, well in the green and widely outperforming the S&P 500.
The company’s forward earnings multiple sits modestly above its five-year median, with the company carrying a Style Score of a B for Value.
Analysts have been bearish in their earnings outlook, with estimates suggesting Y/Y upticks in both revenue and earnings.
ABBV has strung together a nice streak of EPS beats, but top-line results have come in under expectations as of late.
Heading into the print, AbbVie (ABBV - Free Report) carries a Zacks Rank #3 (Hold) with an Earnings ESP Score of -0.04%.