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AbbVie (ABBV) Gains As Market Dips: What You Should Know
AbbVie (ABBV - Free Report) closed at $107.72 in the latest trading session, marking a +0.61% move from the prior day. This change outpaced the S&P 500's 0.28% loss on the day.
Prior to today's trading, shares of the drugmaker had lost 10.46% over the past month. This has lagged the Medical sector's loss of 2.31% and the S&P 500's loss of 0.56% in that time.
Wall Street will be looking for positivity from ABBV as it approaches its next earnings report date. In that report, analysts expect ABBV to post earnings of $3.22 per share. This would mark year-over-year growth of 13.78%. Our most recent consensus estimate is calling for quarterly revenue of $14.44 billion, up 11.89% from the year-ago period.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $12.64 per share and revenue of $56.44 billion. These results would represent year-over-year changes of +19.7% and +23.23%, respectively.
Any recent changes to analyst estimates for ABBV should also be noted by investors. 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. 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 0.05% lower. ABBV is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, ABBV currently has a Forward P/E ratio of 8.47. This represents a discount compared to its industry's average Forward P/E of 13.28.
Also, we should mention that ABBV has a PEG ratio of 2.02. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 2.02 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 113, which puts it in the top 45% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.