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AbbVie (ABBV) Falls More Steeply Than Broader Market: What Investors Need to Know
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AbbVie (ABBV - Free Report) ended the recent trading session at $263.29, demonstrating a -1.12% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.17% for the day. On the other hand, the Dow registered a loss of 0.26%, and the technology-centric Nasdaq decreased by 0.09%.
The drugmaker's stock has climbed by 3.85% in the past month, exceeding the Medical sector's loss of 0.67% and the S&P 500's loss of 0.24%.
The investment community will be paying close attention to the earnings performance of AbbVie in its upcoming release. The company's upcoming EPS is projected at $3.86, signifying a 107.53% increase compared to the same quarter of the previous 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 annual period, the Zacks Consensus Estimates anticipate earnings of $14.05 per share and a revenue of $67.56 billion, signifying shifts of +40.5% and +10.47%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for AbbVie. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.04% decrease. Right now, AbbVie possesses a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 18.95. For comparison, its industry has an average Forward P/E of 16.57, which means AbbVie is trading at a premium to the group.
It's also important to note that ABBV currently trades at a PEG ratio of 1.2. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 2.17 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 110, positioning it in the top 45% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
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AbbVie (ABBV) Falls More Steeply Than Broader Market: What Investors Need to Know
AbbVie (ABBV - Free Report) ended the recent trading session at $263.29, demonstrating a -1.12% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.17% for the day. On the other hand, the Dow registered a loss of 0.26%, and the technology-centric Nasdaq decreased by 0.09%.
The drugmaker's stock has climbed by 3.85% in the past month, exceeding the Medical sector's loss of 0.67% and the S&P 500's loss of 0.24%.
The investment community will be paying close attention to the earnings performance of AbbVie in its upcoming release. The company's upcoming EPS is projected at $3.86, signifying a 107.53% increase compared to the same quarter of the previous 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 annual period, the Zacks Consensus Estimates anticipate earnings of $14.05 per share and a revenue of $67.56 billion, signifying shifts of +40.5% and +10.47%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for AbbVie. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.04% decrease. Right now, AbbVie possesses a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 18.95. For comparison, its industry has an average Forward P/E of 16.57, which means AbbVie is trading at a premium to the group.
It's also important to note that ABBV currently trades at a PEG ratio of 1.2. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 2.17 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 110, positioning it in the top 45% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.