AbbVie (ABBV - Free Report) closed the most recent trading day at $84.16, moving -0.89% from the previous trading session. This move was narrower than the S&P 500's daily loss of 2.71%. Meanwhile, the Dow lost 2.91%, and the Nasdaq, a tech-heavy index, lost 2.21%.
Prior to today's trading, shares of the drugmaker had lost 1.43% over the past month. This has was narrower than the Medical sector's loss of 8.61% and the S&P 500's loss of 8.68% in that time.
Wall Street will be looking for positivity from ABBV as it approaches its next earnings report date. This is expected to be January 25, 2019. The company is expected to report EPS of $1.92, up 29.73% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.36 billion, up 8.07% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.94 per share and revenue of $32.78 billion, which would represent changes of +41.79% and +16.17%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ABBV. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ABBV is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, ABBV currently has a Forward P/E ratio of 10.7. This represents a discount compared to its industry's average Forward P/E of 13.83.
Investors should also note that ABBV has a PEG ratio of 0.79 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.84 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 85, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks 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.