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AbbVie (ABBV) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest trading session, AbbVie (ABBV - Free Report) closed at $220.18, marking a -3.98% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.64% for the day. Elsewhere, the Dow gained 1.23%, while the tech-heavy Nasdaq added 0.69%.
Coming into today, shares of the drugmaker had gained 1.43% in the past month. In that same time, the Medical sector gained 0.63%, while the S&P 500 gained 0.55%.
The investment community will be paying close attention to the earnings performance of AbbVie in its upcoming release. In that report, analysts expect AbbVie to post earnings of $3.37 per share. This would mark year-over-year growth of 56.02%. Our most recent consensus estimate is calling for quarterly revenue of $16.37 billion, up 8.38% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.64 per share and revenue of $60.93 billion. These totals would mark changes of +5.14% and 0%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for AbbVie. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.14% upward. As of now, AbbVie holds a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 15.91. This signifies a premium in comparison to the average Forward P/E of 14.5 for its industry.
We can additionally observe that ABBV currently boasts a PEG ratio of 0.96. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.56 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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AbbVie (ABBV) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, AbbVie (ABBV - Free Report) closed at $220.18, marking a -3.98% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.64% for the day. Elsewhere, the Dow gained 1.23%, while the tech-heavy Nasdaq added 0.69%.
Coming into today, shares of the drugmaker had gained 1.43% in the past month. In that same time, the Medical sector gained 0.63%, while the S&P 500 gained 0.55%.
The investment community will be paying close attention to the earnings performance of AbbVie in its upcoming release. In that report, analysts expect AbbVie to post earnings of $3.37 per share. This would mark year-over-year growth of 56.02%. Our most recent consensus estimate is calling for quarterly revenue of $16.37 billion, up 8.38% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.64 per share and revenue of $60.93 billion. These totals would mark changes of +5.14% and 0%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for AbbVie. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.14% upward. As of now, AbbVie holds a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 15.91. This signifies a premium in comparison to the average Forward P/E of 14.5 for its industry.
We can additionally observe that ABBV currently boasts a PEG ratio of 0.96. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.56 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.