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AbbVie (ABBV) Dips More Than Broader Markets: What You Should Know
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AbbVie (ABBV - Free Report) closed at $111.63 in the latest trading session, marking a -0.73% move from the prior day. This change lagged the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the drugmaker had gained 7.46% over the past month, outpacing the Medical sector's gain of 2.06% and the S&P 500's gain of 4.12% in that time.
ABBV will be looking to display strength as it nears its next earnings release, which is expected to be February 3, 2021. On that day, ABBV is projected to report earnings of $2.86 per share, which would represent 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.
It is also important to note the recent changes to analyst estimates for ABBV. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.4% higher. ABBV currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ABBV has a Forward P/E ratio of 9.24 right now. For comparison, its industry has an average Forward P/E of 13.94, which means ABBV is trading at a discount to the group.
We can also see that ABBV currently has a PEG ratio of 1.57. 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. ABBV's industry had an average PEG ratio of 2.06 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 124, which puts it in the top 49% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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AbbVie (ABBV) Dips More Than Broader Markets: What You Should Know
AbbVie (ABBV - Free Report) closed at $111.63 in the latest trading session, marking a -0.73% move from the prior day. This change lagged the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the drugmaker had gained 7.46% over the past month, outpacing the Medical sector's gain of 2.06% and the S&P 500's gain of 4.12% in that time.
ABBV will be looking to display strength as it nears its next earnings release, which is expected to be February 3, 2021. On that day, ABBV is projected to report earnings of $2.86 per share, which would represent 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.
It is also important to note the recent changes to analyst estimates for ABBV. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.4% higher. ABBV currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ABBV has a Forward P/E ratio of 9.24 right now. For comparison, its industry has an average Forward P/E of 13.94, which means ABBV is trading at a discount to the group.
We can also see that ABBV currently has a PEG ratio of 1.57. 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. ABBV's industry had an average PEG ratio of 2.06 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 124, which puts it in the top 49% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.