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AbbVie (ABBV) Ascends While Market Falls: Some Facts to Note
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AbbVie (ABBV - Free Report) ended the recent trading session at $227.23, demonstrating a +1.02% change from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 2.65%. Meanwhile, the Dow experienced a drop of 1.35%, and the technology-dominated Nasdaq saw a decrease of 4.18%.
Coming into today, shares of the drugmaker had gained 10.97% in the past month. In that same time, the Medical sector gained 3.33%, while the S&P 500 gained 5.47%.
Market participants will be closely following the financial results of AbbVie in its upcoming release. The company is predicted to post an EPS of $3.79, indicating a 27.61% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $16.8 billion, indicating a 8.93% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $14.3 per share and revenue of $67.32 billion, which would represent changes of +43% and +10.07%, respectively, from the prior year.
Any recent changes to analyst estimates for AbbVie should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 moved 0.12% 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 15.73. Its industry sports an average Forward P/E of 15.65, so one might conclude that AbbVie is trading at a premium comparatively.
Meanwhile, ABBV's PEG ratio is currently 0.69. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 2.61.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 80, finds itself in the top 33% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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AbbVie (ABBV) Ascends While Market Falls: Some Facts to Note
AbbVie (ABBV - Free Report) ended the recent trading session at $227.23, demonstrating a +1.02% change from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 2.65%. Meanwhile, the Dow experienced a drop of 1.35%, and the technology-dominated Nasdaq saw a decrease of 4.18%.
Coming into today, shares of the drugmaker had gained 10.97% in the past month. In that same time, the Medical sector gained 3.33%, while the S&P 500 gained 5.47%.
Market participants will be closely following the financial results of AbbVie in its upcoming release. The company is predicted to post an EPS of $3.79, indicating a 27.61% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $16.8 billion, indicating a 8.93% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $14.3 per share and revenue of $67.32 billion, which would represent changes of +43% and +10.07%, respectively, from the prior year.
Any recent changes to analyst estimates for AbbVie should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 moved 0.12% 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 15.73. Its industry sports an average Forward P/E of 15.65, so one might conclude that AbbVie is trading at a premium comparatively.
Meanwhile, ABBV's PEG ratio is currently 0.69. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 2.61.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 80, finds itself in the top 33% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.