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AbbVie (ABBV) Gains As Market Dips: What You Should Know
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AbbVie (ABBV - Free Report) closed at $177.70 in the latest trading session, marking a +0.85% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.43% for the day. On the other hand, the Dow registered a loss of 0.07%, and the technology-centric Nasdaq decreased by 0.9%.
The the stock of drugmaker has fallen by 3.06% in the past month, leading the Medical sector's loss of 7.03% and undershooting the S&P 500's loss of 1.98%.
The investment community will be paying close attention to the earnings performance of AbbVie in its upcoming release. The company is forecasted to report an EPS of $2.99, showcasing a 7.17% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.92 billion, up 4.34% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10.96 per share and a revenue of $56.15 billion, representing changes of -1.35% and +3.38%, respectively, from the prior year.
Any recent changes to analyst estimates for AbbVie should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate has moved 0.05% higher within the past month. At present, AbbVie boasts a Zacks Rank of #2 (Buy).
Looking at valuation, AbbVie is presently trading at a Forward P/E ratio of 16.08. This indicates a premium in contrast to its industry's Forward P/E of 13.8.
It is also worth noting that ABBV currently has a PEG ratio of 1.94. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Large Cap Pharmaceuticals industry had an average PEG ratio of 1.45 as trading concluded yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 141, which puts it in the bottom 44% 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.
To follow ABBV in the coming trading sessions, be sure to utilize Zacks.com.
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AbbVie (ABBV) Gains As Market Dips: What You Should Know
AbbVie (ABBV - Free Report) closed at $177.70 in the latest trading session, marking a +0.85% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.43% for the day. On the other hand, the Dow registered a loss of 0.07%, and the technology-centric Nasdaq decreased by 0.9%.
The the stock of drugmaker has fallen by 3.06% in the past month, leading the Medical sector's loss of 7.03% and undershooting the S&P 500's loss of 1.98%.
The investment community will be paying close attention to the earnings performance of AbbVie in its upcoming release. The company is forecasted to report an EPS of $2.99, showcasing a 7.17% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.92 billion, up 4.34% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10.96 per share and a revenue of $56.15 billion, representing changes of -1.35% and +3.38%, respectively, from the prior year.
Any recent changes to analyst estimates for AbbVie should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate has moved 0.05% higher within the past month. At present, AbbVie boasts a Zacks Rank of #2 (Buy).
Looking at valuation, AbbVie is presently trading at a Forward P/E ratio of 16.08. This indicates a premium in contrast to its industry's Forward P/E of 13.8.
It is also worth noting that ABBV currently has a PEG ratio of 1.94. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Large Cap Pharmaceuticals industry had an average PEG ratio of 1.45 as trading concluded yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 141, which puts it in the bottom 44% 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.
To follow ABBV in the coming trading sessions, be sure to utilize Zacks.com.