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AbbVie (ABBV) Declines More Than Market: Some Information for Investors
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In the latest trading session, AbbVie (ABBV - Free Report) closed at $206.23, marking a -1.01% move from the previous day. This change lagged the S&P 500's 0.28% loss on the day. On the other hand, the Dow registered a loss of 0.44%, and the technology-centric Nasdaq decreased by 0.28%.
Prior to today's trading, shares of the drugmaker had lost 8.91% lagged the Medical sector's loss of 7.53% and the S&P 500's loss of 3.59%.
Market participants will be closely following the financial results of AbbVie in its upcoming release. The company's earnings per share (EPS) are projected to be $3.01, reflecting a 22.36% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $14.78 billion, reflecting a 10.74% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $14.54 per share and a revenue of $67.04 billion, representing changes of +45.4% and +9.62%, respectively, from the prior 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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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% lower. AbbVie is currently a Zacks Rank #3 (Hold).
In terms of valuation, AbbVie is presently being traded at a Forward P/E ratio of 14.33. Its industry sports an average Forward P/E of 14.33, so one might conclude that AbbVie is trading at no noticeable deviation comparatively.
Investors should also note that ABBV has a PEG ratio of 0.73 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ABBV's industry had an average PEG ratio of 2.09 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 178, placing it within the bottom 28% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Declines More Than Market: Some Information for Investors
In the latest trading session, AbbVie (ABBV - Free Report) closed at $206.23, marking a -1.01% move from the previous day. This change lagged the S&P 500's 0.28% loss on the day. On the other hand, the Dow registered a loss of 0.44%, and the technology-centric Nasdaq decreased by 0.28%.
Prior to today's trading, shares of the drugmaker had lost 8.91% lagged the Medical sector's loss of 7.53% and the S&P 500's loss of 3.59%.
Market participants will be closely following the financial results of AbbVie in its upcoming release. The company's earnings per share (EPS) are projected to be $3.01, reflecting a 22.36% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $14.78 billion, reflecting a 10.74% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $14.54 per share and a revenue of $67.04 billion, representing changes of +45.4% and +9.62%, respectively, from the prior 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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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% lower. AbbVie is currently a Zacks Rank #3 (Hold).
In terms of valuation, AbbVie is presently being traded at a Forward P/E ratio of 14.33. Its industry sports an average Forward P/E of 14.33, so one might conclude that AbbVie is trading at no noticeable deviation comparatively.
Investors should also note that ABBV has a PEG ratio of 0.73 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ABBV's industry had an average PEG ratio of 2.09 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 178, placing it within the bottom 28% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.