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AbbVie (ABBV) Stock Moves -0.55%: What You Should Know

Zacks Equity Research
·3 mins read

AbbVie (ABBV) closed at $87.83 in the latest trading session, marking a -0.55% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.63%. Elsewhere, the Dow lost 0.55%, while the tech-heavy Nasdaq lost 0.1%.

Heading into today, shares of the drugmaker had lost 2.4% over the past month, lagging the Medical sector's gain of 3.79% and the S&P 500's gain of 5.91% in that time.

Investors will be hoping for strength from ABBV as it approaches its next earnings release, which is expected to be October 30, 2020. On that day, ABBV is projected to report earnings of $2.78 per share, which would represent year-over-year growth of 19.31%. Our most recent consensus estimate is calling for quarterly revenue of $12.85 billion, up 51.52% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $10.44 per share and revenue of $45.48 billion, which would represent changes of +16.78% and +36.7%, respectively, from the prior year.

Any recent changes to analyst estimates for ABBV should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.13% lower. ABBV is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, ABBV currently has a Forward P/E ratio of 8.46. This valuation marks a discount compared to its industry's average Forward P/E of 14.36.

We can also see that ABBV currently has a PEG ratio of 1.42. 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. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 2 as of yesterday's close.

The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 28% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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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