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AbbVie (ABBV) Dips More Than Broader Market: What You Should Know
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In the latest close session, AbbVie (ABBV - Free Report) was down 2.52% at $219.68. This change lagged the S&P 500's daily loss of 0.61%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 0.93%.
The drugmaker's shares have seen a decrease of 0.94% over the last month, surpassing the Medical sector's loss of 4.48% and the S&P 500's loss of 2.25%.
Investors will be eagerly watching for the performance of AbbVie in its upcoming earnings disclosure. The company's upcoming EPS is projected at $3.01, signifying a 22.36% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $14.78 billion, indicating a 10.74% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $14.54 per share and a revenue of $67.04 billion, demonstrating changes of +45.4% and +9.62%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for AbbVie. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0% downward. Right now, AbbVie possesses a Zacks Rank of #3 (Hold).
With respect to valuation, AbbVie is currently being traded at a Forward P/E ratio of 15.5. Its industry sports an average Forward P/E of 15.5, so one might conclude that AbbVie is trading at no noticeable deviation comparatively.
Also, we should mention that ABBV has a PEG ratio of 0.79. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Large Cap Pharmaceuticals industry had an average PEG ratio of 2.11.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 205, finds itself in the bottom 17% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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) Dips More Than Broader Market: What You Should Know
In the latest close session, AbbVie (ABBV - Free Report) was down 2.52% at $219.68. This change lagged the S&P 500's daily loss of 0.61%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 0.93%.
The drugmaker's shares have seen a decrease of 0.94% over the last month, surpassing the Medical sector's loss of 4.48% and the S&P 500's loss of 2.25%.
Investors will be eagerly watching for the performance of AbbVie in its upcoming earnings disclosure. The company's upcoming EPS is projected at $3.01, signifying a 22.36% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $14.78 billion, indicating a 10.74% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $14.54 per share and a revenue of $67.04 billion, demonstrating changes of +45.4% and +9.62%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for AbbVie. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0% downward. Right now, AbbVie possesses a Zacks Rank of #3 (Hold).
With respect to valuation, AbbVie is currently being traded at a Forward P/E ratio of 15.5. Its industry sports an average Forward P/E of 15.5, so one might conclude that AbbVie is trading at no noticeable deviation comparatively.
Also, we should mention that ABBV has a PEG ratio of 0.79. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Large Cap Pharmaceuticals industry had an average PEG ratio of 2.11.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 205, finds itself in the bottom 17% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.