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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 $109.02, marking a +1.63% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.66%. At the same time, the Dow lost 0.29%, and the tech-heavy Nasdaq lost 1.25%.
Prior to today's trading, shares of the drugmaker had lost 0.2% over the past month. This has lagged the Medical sector's gain of 1.53% and the S&P 500's gain of 3.42% in that time.
Investors will be hoping for strength from ABBV as it approaches its next earnings release. In that report, analysts expect ABBV to post earnings of $2.86 per share. This would mark year-over-year growth of 29.41%. Meanwhile, our latest consensus estimate is calling for revenue of $13.76 billion, up 58.11% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for ABBV. These recent revisions tend to reflect the evolving nature of short-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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.56% higher within the past month. ABBV is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, ABBV currently has a Forward P/E ratio of 8.82. This represents a discount compared to its industry's average Forward P/E of 14.05.
It is also worth noting that ABBV currently has a PEG ratio of 1.49. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 2.04 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 97, which puts it in the top 39% 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 As Market Dips: What You Should Know
In the latest trading session, AbbVie (ABBV - Free Report) closed at $109.02, marking a +1.63% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.66%. At the same time, the Dow lost 0.29%, and the tech-heavy Nasdaq lost 1.25%.
Prior to today's trading, shares of the drugmaker had lost 0.2% over the past month. This has lagged the Medical sector's gain of 1.53% and the S&P 500's gain of 3.42% in that time.
Investors will be hoping for strength from ABBV as it approaches its next earnings release. In that report, analysts expect ABBV to post earnings of $2.86 per share. This would mark year-over-year growth of 29.41%. Meanwhile, our latest consensus estimate is calling for revenue of $13.76 billion, up 58.11% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for ABBV. These recent revisions tend to reflect the evolving nature of short-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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.56% higher within the past month. ABBV is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, ABBV currently has a Forward P/E ratio of 8.82. This represents a discount compared to its industry's average Forward P/E of 14.05.
It is also worth noting that ABBV currently has a PEG ratio of 1.49. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 2.04 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 97, which puts it in the top 39% 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.