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AbbVie (ABBV) Registers a Bigger Fall Than the Market: Important Facts to Note
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The latest trading session saw AbbVie (ABBV - Free Report) ending at $161.48, denoting a -0.57% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 0.37% for the day. At the same time, the Dow lost 0.62%, and the tech-heavy Nasdaq lost 0.19%.
The drugmaker's stock has climbed by 5.85% in the past month, exceeding the Medical sector's gain of 4.61% and the S&P 500's gain of 1.56%.
Analysts and investors alike will be keeping a close eye on the performance of AbbVie in its upcoming earnings disclosure. The company's earnings report is set to go public on February 2, 2024. In that report, analysts expect AbbVie to post earnings of $2.91 per share. This would mark a year-over-year decline of 19.17%. Meanwhile, our latest consensus estimate is calling for revenue of $14.04 billion, down 7.14% from the prior-year quarter.
Investors should also take note of any recent adjustments to analyst estimates for AbbVie. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.16% lower. At present, AbbVie boasts a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is presently being traded at a Forward P/E ratio of 14.51. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 14.51.
We can additionally observe that ABBV currently boasts a PEG ratio of 2.9. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.82.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 70, this industry ranks in the top 28% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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AbbVie (ABBV) Registers a Bigger Fall Than the Market: Important Facts to Note
The latest trading session saw AbbVie (ABBV - Free Report) ending at $161.48, denoting a -0.57% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 0.37% for the day. At the same time, the Dow lost 0.62%, and the tech-heavy Nasdaq lost 0.19%.
The drugmaker's stock has climbed by 5.85% in the past month, exceeding the Medical sector's gain of 4.61% and the S&P 500's gain of 1.56%.
Analysts and investors alike will be keeping a close eye on the performance of AbbVie in its upcoming earnings disclosure. The company's earnings report is set to go public on February 2, 2024. In that report, analysts expect AbbVie to post earnings of $2.91 per share. This would mark a year-over-year decline of 19.17%. Meanwhile, our latest consensus estimate is calling for revenue of $14.04 billion, down 7.14% from the prior-year quarter.
Investors should also take note of any recent adjustments to analyst estimates for AbbVie. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.16% lower. At present, AbbVie boasts a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is presently being traded at a Forward P/E ratio of 14.51. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 14.51.
We can additionally observe that ABBV currently boasts a PEG ratio of 2.9. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.82.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 70, this industry ranks in the top 28% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.