In the latest trading session, AbbVie (ABBV - Free Report) closed at $74.33, marking a -0.44% move from the previous day. This change was narrower than the S&P 500's 0.45% loss on the day. At the same time, the Dow lost 0.36%, and the tech-heavy Nasdaq lost 0.33%.
Coming into today, shares of the drugmaker had gained 11.38% in the past month. In that same time, the Medical sector lost 1.24%, while the S&P 500 gained 0.59%.
Wall Street will be looking for positivity from ABBV as it approaches its next earnings report date. On that day, ABBV is projected to report earnings of $2.27 per share, which would represent year-over-year growth of 6.07%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.38 billion, up 1.78% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.91 per share and revenue of $32.99 billion, which would represent changes of +12.64% and +0.74%, respectively, from the prior year.
Any recent changes to analyst estimates for ABBV should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
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, the Zacks Consensus EPS estimate has moved 0.12% higher. ABBV is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note ABBV's current valuation metrics, including its Forward P/E ratio of 8.38. This represents a discount compared to its industry's average Forward P/E of 14.36.
Meanwhile, ABBV's PEG ratio is currently 1.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 2.1 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 31, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.