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AbbVie (ABBV) Gains But Lags Market: What You Should Know
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AbbVie (ABBV - Free Report) closed at $147.75 in the latest trading session, marking a +0.04% move from the prior day. The stock lagged the S&P 500's daily gain of 0.99%. Elsewhere, the Dow gained 0.51%, while the tech-heavy Nasdaq lost 0.31%.
Coming into today, shares of the drugmaker had gained 0.09% in the past month. In that same time, the Medical sector gained 7.32%, while the S&P 500 gained 7.91%.
AbbVie will be looking to display strength as it nears its next earnings release, which is expected to be July 29, 2022. In that report, analysts expect AbbVie to post earnings of $3.28 per share. This would mark year-over-year growth of 5.47%. Our most recent consensus estimate is calling for quarterly revenue of $14.65 billion, up 4.97% from the year-ago period.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $13.88 per share and revenue of $59.61 billion. These results would represent year-over-year changes of +9.29% and +6.08%, respectively.
Investors might also notice recent changes to analyst estimates for AbbVie. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.07% higher. AbbVie is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, AbbVie is holding a Forward P/E ratio of 10.64. This represents a discount compared to its industry's average Forward P/E of 12.25.
Investors should also note that ABBV has a PEG ratio of 4.2 right now. 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. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 2.11 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 41% 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) Gains But Lags Market: What You Should Know
AbbVie (ABBV - Free Report) closed at $147.75 in the latest trading session, marking a +0.04% move from the prior day. The stock lagged the S&P 500's daily gain of 0.99%. Elsewhere, the Dow gained 0.51%, while the tech-heavy Nasdaq lost 0.31%.
Coming into today, shares of the drugmaker had gained 0.09% in the past month. In that same time, the Medical sector gained 7.32%, while the S&P 500 gained 7.91%.
AbbVie will be looking to display strength as it nears its next earnings release, which is expected to be July 29, 2022. In that report, analysts expect AbbVie to post earnings of $3.28 per share. This would mark year-over-year growth of 5.47%. Our most recent consensus estimate is calling for quarterly revenue of $14.65 billion, up 4.97% from the year-ago period.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $13.88 per share and revenue of $59.61 billion. These results would represent year-over-year changes of +9.29% and +6.08%, respectively.
Investors might also notice recent changes to analyst estimates for AbbVie. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.07% higher. AbbVie is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, AbbVie is holding a Forward P/E ratio of 10.64. This represents a discount compared to its industry's average Forward P/E of 12.25.
Investors should also note that ABBV has a PEG ratio of 4.2 right now. 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. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 2.11 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 41% 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.