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Here's Why AbbVie (ABBV) Fell More Than Broader Market
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The latest trading session saw AbbVie (ABBV - Free Report) ending at $169.80, denoting a -0.12% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.04%. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw an increase of 0.03%.
The drugmaker's shares have seen a decrease of 4.95% over the last month, not keeping up with the Medical sector's loss of 0.6% and the S&P 500's gain of 2.57%.
The upcoming earnings release of AbbVie will be of great interest to investors. The company's earnings report is expected on April 26, 2024. The company is predicted to post an EPS of $2.33, indicating a 5.28% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $11.94 billion, down 2.31% from the prior-year quarter.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $11.16 per share and revenue of $54.52 billion. These results would represent year-over-year changes of +0.45% and +0.37%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for AbbVie. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.29% 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 15.23. This indicates a premium in contrast to its industry's Forward P/E of 14.31.
It's also important to note that ABBV currently trades at a PEG ratio of 2.16. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.74 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 206, putting it in the bottom 19% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Here's Why AbbVie (ABBV) Fell More Than Broader Market
The latest trading session saw AbbVie (ABBV - Free Report) ending at $169.80, denoting a -0.12% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.04%. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw an increase of 0.03%.
The drugmaker's shares have seen a decrease of 4.95% over the last month, not keeping up with the Medical sector's loss of 0.6% and the S&P 500's gain of 2.57%.
The upcoming earnings release of AbbVie will be of great interest to investors. The company's earnings report is expected on April 26, 2024. The company is predicted to post an EPS of $2.33, indicating a 5.28% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $11.94 billion, down 2.31% from the prior-year quarter.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $11.16 per share and revenue of $54.52 billion. These results would represent year-over-year changes of +0.45% and +0.37%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for AbbVie. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.29% 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 15.23. This indicates a premium in contrast to its industry's Forward P/E of 14.31.
It's also important to note that ABBV currently trades at a PEG ratio of 2.16. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.74 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 206, putting it in the bottom 19% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.