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AbbVie (ABBV) Stock Moves -0.43%: What You Should Know
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AbbVie (ABBV - Free Report) closed at $145.65 in the latest trading session, marking a -0.43% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.3%. Elsewhere, the Dow lost 0.77%, while the tech-heavy Nasdaq lost 5.51%.
Heading into today, shares of the drugmaker had lost 9.49% over the past month, lagging the Medical sector's loss of 0.54% and the S&P 500's gain of 6.41% in that time.
Wall Street will be looking for positivity from AbbVie as it approaches its next earnings report date. This is expected to be February 9, 2023. On that day, AbbVie is projected to report earnings of $3.59 per share, which would represent year-over-year growth of 8.46%. Meanwhile, our latest consensus estimate is calling for revenue of $15.35 billion, up 3.15% from the prior-year quarter.
Any recent changes to analyst estimates for AbbVie should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.84% higher. AbbVie is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that AbbVie has a Forward P/E ratio of 12.55 right now. This represents a discount compared to its industry's average Forward P/E of 14.16.
Also, we should mention that ABBV has a PEG ratio of 3.14. 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 was holding an average PEG ratio of 1.75 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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) Stock Moves -0.43%: What You Should Know
AbbVie (ABBV - Free Report) closed at $145.65 in the latest trading session, marking a -0.43% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.3%. Elsewhere, the Dow lost 0.77%, while the tech-heavy Nasdaq lost 5.51%.
Heading into today, shares of the drugmaker had lost 9.49% over the past month, lagging the Medical sector's loss of 0.54% and the S&P 500's gain of 6.41% in that time.
Wall Street will be looking for positivity from AbbVie as it approaches its next earnings report date. This is expected to be February 9, 2023. On that day, AbbVie is projected to report earnings of $3.59 per share, which would represent year-over-year growth of 8.46%. Meanwhile, our latest consensus estimate is calling for revenue of $15.35 billion, up 3.15% from the prior-year quarter.
Any recent changes to analyst estimates for AbbVie should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.84% higher. AbbVie is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that AbbVie has a Forward P/E ratio of 12.55 right now. This represents a discount compared to its industry's average Forward P/E of 14.16.
Also, we should mention that ABBV has a PEG ratio of 3.14. 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 was holding an average PEG ratio of 1.75 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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.