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AbbVie (ABBV) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest trading session, AbbVie (ABBV - Free Report) closed at $232.35, marking a -1.63% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.57%. Elsewhere, the Dow saw a downswing of 1.61%, while the tech-heavy Nasdaq depreciated by 0.26%.
Coming into today, shares of the drugmaker had gained 8.79% in the past month. In that same time, the Medical sector gained 0.06%, while the S&P 500 lost 0.15%.
Investors will be eagerly watching for the performance of AbbVie in its upcoming earnings disclosure. The company is forecasted to report an EPS of $3.01, showcasing a 22.36% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $14.77 billion, up 10.68% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $14.54 per share and revenue of $66.98 billion, indicating changes of +45.4% and +9.51%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for AbbVie. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.06% upward. Currently, AbbVie is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that AbbVie has a Forward P/E ratio of 16.25 right now. This represents no noticeable deviation compared to its industry average Forward P/E of 16.25.
One should further note that ABBV currently holds a PEG ratio of 0.83. 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 Large Cap Pharmaceuticals industry currently had an average PEG ratio of 2.31 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 32% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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AbbVie (ABBV) Suffers a Larger Drop Than the General Market: Key Insights
In the latest trading session, AbbVie (ABBV - Free Report) closed at $232.35, marking a -1.63% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.57%. Elsewhere, the Dow saw a downswing of 1.61%, while the tech-heavy Nasdaq depreciated by 0.26%.
Coming into today, shares of the drugmaker had gained 8.79% in the past month. In that same time, the Medical sector gained 0.06%, while the S&P 500 lost 0.15%.
Investors will be eagerly watching for the performance of AbbVie in its upcoming earnings disclosure. The company is forecasted to report an EPS of $3.01, showcasing a 22.36% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $14.77 billion, up 10.68% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $14.54 per share and revenue of $66.98 billion, indicating changes of +45.4% and +9.51%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for AbbVie. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.06% upward. Currently, AbbVie is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that AbbVie has a Forward P/E ratio of 16.25 right now. This represents no noticeable deviation compared to its industry average Forward P/E of 16.25.
One should further note that ABBV currently holds a PEG ratio of 0.83. 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 Large Cap Pharmaceuticals industry currently had an average PEG ratio of 2.31 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 32% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.