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AbbVie (ABBV) Registers a Bigger Fall Than the Market: Important Facts to Note
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AbbVie (ABBV - Free Report) closed the most recent trading day at $248.78, moving -2.99% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.58%. Meanwhile, the Dow experienced a drop of 1.18%, and the technology-dominated Nasdaq saw a decrease of 0.32%.
The drugmaker's stock has climbed by 3.42% in the past month, exceeding the Medical sector's gain of 2.73% and the S&P 500's loss of 0.36%.
Analysts and investors alike will be keeping a close eye on the performance of AbbVie in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $3.86, reflecting a 107.53% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $17.36 billion, indicating a 10.02% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $14.05 per share and a revenue of $67.56 billion, demonstrating changes of +40.5% and +10.47%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for AbbVie. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, 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 a 0.09% fall in the Zacks Consensus EPS estimate. As of now, AbbVie holds a Zacks Rank of #3 (Hold).
In the context of valuation, AbbVie is at present trading with a Forward P/E ratio of 18.25. This valuation marks a premium compared to its industry average Forward P/E of 17.92.
Investors should also note that ABBV has a PEG ratio of 1.16 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 2.27.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 102, this industry ranks in the top 42% of all industries, numbering over 250.
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.
To follow ABBV in the coming trading sessions, be sure to utilize Zacks.com.
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AbbVie (ABBV) Registers a Bigger Fall Than the Market: Important Facts to Note
AbbVie (ABBV - Free Report) closed the most recent trading day at $248.78, moving -2.99% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.58%. Meanwhile, the Dow experienced a drop of 1.18%, and the technology-dominated Nasdaq saw a decrease of 0.32%.
The drugmaker's stock has climbed by 3.42% in the past month, exceeding the Medical sector's gain of 2.73% and the S&P 500's loss of 0.36%.
Analysts and investors alike will be keeping a close eye on the performance of AbbVie in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $3.86, reflecting a 107.53% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $17.36 billion, indicating a 10.02% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $14.05 per share and a revenue of $67.56 billion, demonstrating changes of +40.5% and +10.47%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for AbbVie. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, 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 a 0.09% fall in the Zacks Consensus EPS estimate. As of now, AbbVie holds a Zacks Rank of #3 (Hold).
In the context of valuation, AbbVie is at present trading with a Forward P/E ratio of 18.25. This valuation marks a premium compared to its industry average Forward P/E of 17.92.
Investors should also note that ABBV has a PEG ratio of 1.16 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 2.27.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 102, this industry ranks in the top 42% of all industries, numbering over 250.
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.
To follow ABBV in the coming trading sessions, be sure to utilize Zacks.com.