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AbbVie (ABBV) Stock Sinks As Market Gains: What You Should Know
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AbbVie (ABBV - Free Report) closed at $156.35 in the latest trading session, marking a -1.89% move from the prior day. This move lagged the S&P 500's daily gain of 1.61%. Meanwhile, the Dow gained 1.45%, and the Nasdaq, a tech-heavy index, added 0.36%.
Prior to today's trading, shares of the drugmaker had lost 0.43% over the past month. This has was narrower than the Medical sector's loss of 0.95% and the S&P 500's loss of 1.42% in that time.
Investors will be hoping for strength from AbbVie as it approaches its next earnings release, which is expected to be April 29, 2022. On that day, AbbVie is projected to report earnings of $3.15 per share, which would represent year-over-year growth of 6.78%. Our most recent consensus estimate is calling for quarterly revenue of $13.56 billion, up 4.22% from the year-ago period.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $14.16 per share and revenue of $60.36 billion. These results would represent year-over-year changes of +11.5% and +7.4%, respectively.
Any recent changes to analyst estimates for AbbVie should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.22% higher. AbbVie currently has a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 11.26. This represents a discount compared to its industry's average Forward P/E of 13.73.
We can also see that ABBV currently has a PEG ratio of 4.44. 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. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 2.42 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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AbbVie (ABBV) Stock Sinks As Market Gains: What You Should Know
AbbVie (ABBV - Free Report) closed at $156.35 in the latest trading session, marking a -1.89% move from the prior day. This move lagged the S&P 500's daily gain of 1.61%. Meanwhile, the Dow gained 1.45%, and the Nasdaq, a tech-heavy index, added 0.36%.
Prior to today's trading, shares of the drugmaker had lost 0.43% over the past month. This has was narrower than the Medical sector's loss of 0.95% and the S&P 500's loss of 1.42% in that time.
Investors will be hoping for strength from AbbVie as it approaches its next earnings release, which is expected to be April 29, 2022. On that day, AbbVie is projected to report earnings of $3.15 per share, which would represent year-over-year growth of 6.78%. Our most recent consensus estimate is calling for quarterly revenue of $13.56 billion, up 4.22% from the year-ago period.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $14.16 per share and revenue of $60.36 billion. These results would represent year-over-year changes of +11.5% and +7.4%, respectively.
Any recent changes to analyst estimates for AbbVie should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.22% higher. AbbVie currently has a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 11.26. This represents a discount compared to its industry's average Forward P/E of 13.73.
We can also see that ABBV currently has a PEG ratio of 4.44. 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. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 2.42 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.