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AbbVie (ABBV) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, AbbVie (ABBV - Free Report) closed at $216.49, marking a -2.14% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.09%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 1.91%.
Shares of the drugmaker witnessed a gain of 4.21% over the previous month, beating the performance of the Medical sector with its gain of 3.16%, and the S&P 500's gain of 0.29%.
The upcoming earnings release of AbbVie will be of great interest to investors. The company's upcoming EPS is projected at $3.78, signifying a 27.27% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $16.8 billion, indicating a 8.93% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $14.3 per share and revenue of $67.32 billion. These totals would mark changes of +43% and +10.07%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for AbbVie. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, AbbVie boasts a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is presently being traded at a Forward P/E ratio of 15.47. This signifies no noticeable deviation in comparison to the average Forward P/E of 15.47 for its industry.
It's also important to note that ABBV currently trades at a PEG ratio of 0.68. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 2.6 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 40% of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
View the Zacks #1 Rank List
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AbbVie (ABBV) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, AbbVie (ABBV - Free Report) closed at $216.49, marking a -2.14% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.09%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 1.91%.
Shares of the drugmaker witnessed a gain of 4.21% over the previous month, beating the performance of the Medical sector with its gain of 3.16%, and the S&P 500's gain of 0.29%.
The upcoming earnings release of AbbVie will be of great interest to investors. The company's upcoming EPS is projected at $3.78, signifying a 27.27% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $16.8 billion, indicating a 8.93% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $14.3 per share and revenue of $67.32 billion. These totals would mark changes of +43% and +10.07%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for AbbVie. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, AbbVie boasts a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is presently being traded at a Forward P/E ratio of 15.47. This signifies no noticeable deviation in comparison to the average Forward P/E of 15.47 for its industry.
It's also important to note that ABBV currently trades at a PEG ratio of 0.68. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 2.6 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 40% of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.