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Why the Market Dipped But AbbVie (ABBV) Gained Today
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AbbVie (ABBV - Free Report) closed the latest trading day at $173.70, indicating a +1.37% change from the previous session's end. This change outpaced the S&P 500's 0.21% loss on the day. Elsewhere, the Dow saw a downswing of 0.16%, while the tech-heavy Nasdaq depreciated by 0.89%.
The drugmaker's shares have seen a decrease of 0.97% over the last month, surpassing the Medical sector's loss of 2.46% and the S&P 500's loss of 1.56%.
The upcoming earnings release of AbbVie will be of great interest to investors. The company's earnings report is expected on January 31, 2025. The company is predicted to post an EPS of $2.90, indicating a 3.94% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $14.92 billion, showing a 4.34% escalation compared to the year-ago quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for AbbVie. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.21% lower. Currently, AbbVie is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, AbbVie currently has a Forward P/E ratio of 14.01. This represents a premium compared to its industry's average Forward P/E of 12.69.
Investors should also note that ABBV has a PEG ratio of 1.69 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.29.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 203, placing it within the bottom 20% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why the Market Dipped But AbbVie (ABBV) Gained Today
AbbVie (ABBV - Free Report) closed the latest trading day at $173.70, indicating a +1.37% change from the previous session's end. This change outpaced the S&P 500's 0.21% loss on the day. Elsewhere, the Dow saw a downswing of 0.16%, while the tech-heavy Nasdaq depreciated by 0.89%.
The drugmaker's shares have seen a decrease of 0.97% over the last month, surpassing the Medical sector's loss of 2.46% and the S&P 500's loss of 1.56%.
The upcoming earnings release of AbbVie will be of great interest to investors. The company's earnings report is expected on January 31, 2025. The company is predicted to post an EPS of $2.90, indicating a 3.94% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $14.92 billion, showing a 4.34% escalation compared to the year-ago quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for AbbVie. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.21% lower. Currently, AbbVie is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, AbbVie currently has a Forward P/E ratio of 14.01. This represents a premium compared to its industry's average Forward P/E of 12.69.
Investors should also note that ABBV has a PEG ratio of 1.69 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.29.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 203, placing it within the bottom 20% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.