AbbVie (ABBV) closed the most recent trading day at $70.29, moving +0.01% from the previous trading session. This move lagged the S&P 500's daily gain of 0.02%. Elsewhere, the Dow gained 0.1%, while the tech-heavy Nasdaq added 0.17%.
Coming into today, shares of the drugmaker had lost 10.98% in the past month. In that same time, the Medical sector lost 0.79%, while the S&P 500 gained 4.82%.
Wall Street will be looking for positivity from ABBV as it approaches its next earnings report date. This is expected to be July 26, 2019. On that day, ABBV is projected to report earnings of $2.21 per share, which would represent year-over-year growth of 10.5%. Our most recent consensus estimate is calling for quarterly revenue of $8.09 billion, down 2.27% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.78 per share and revenue of $32.79 billion, which would represent changes of +11% and +0.11%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for ABBV. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.39% lower. ABBV currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ABBV is currently trading at a Forward P/E ratio of 8.01. This represents a discount compared to its industry's average Forward P/E of 14.3.
It is also worth noting that ABBV currently has a PEG ratio of 1.44. 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 2.09 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 33, putting it in the top 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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