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AbbVie (ABBV) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest market close, AbbVie (ABBV - Free Report) reached $191.26, with a -1.16% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.19%. Meanwhile, the Dow experienced a drop of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.04%.
Coming into today, shares of the drugmaker had lost 1.23% in the past month. In that same time, the Medical sector lost 1.58%, while the S&P 500 gained 1.95%.
The investment community will be paying close attention to the earnings performance of AbbVie in its upcoming release. The company's earnings per share (EPS) are projected to be $2.95, reflecting no change from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $14.25 billion, up 2.31% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $10.87 per share and a revenue of $55.8 billion, demonstrating changes of -2.16% and +2.73%, respectively, from the preceding year.
Any recent changes to analyst estimates for AbbVie should also be noted by investors. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. AbbVie is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, AbbVie is holding a Forward P/E ratio of 17.81. This indicates a premium in contrast to its industry's Forward P/E of 15.89.
We can additionally observe that ABBV currently boasts a PEG ratio of 2.64. 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 1.68 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 42, positioning it in the top 17% 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.
To follow ABBV in the coming trading sessions, be sure to utilize Zacks.com.
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AbbVie (ABBV) Suffers a Larger Drop Than the General Market: Key Insights
In the latest market close, AbbVie (ABBV - Free Report) reached $191.26, with a -1.16% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.19%. Meanwhile, the Dow experienced a drop of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.04%.
Coming into today, shares of the drugmaker had lost 1.23% in the past month. In that same time, the Medical sector lost 1.58%, while the S&P 500 gained 1.95%.
The investment community will be paying close attention to the earnings performance of AbbVie in its upcoming release. The company's earnings per share (EPS) are projected to be $2.95, reflecting no change from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $14.25 billion, up 2.31% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $10.87 per share and a revenue of $55.8 billion, demonstrating changes of -2.16% and +2.73%, respectively, from the preceding year.
Any recent changes to analyst estimates for AbbVie should also be noted by investors. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. AbbVie is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, AbbVie is holding a Forward P/E ratio of 17.81. This indicates a premium in contrast to its industry's Forward P/E of 15.89.
We can additionally observe that ABBV currently boasts a PEG ratio of 2.64. 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 1.68 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 42, positioning it in the top 17% 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.
To follow ABBV in the coming trading sessions, be sure to utilize Zacks.com.