AbbVie (ABBV) Stock Moves -1.23%: What You Should Know
In the latest trading session, AbbVie (ABBV) closed at $106.40, marking a -1.23% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.7%.
Prior to today's trading, shares of the drugmaker had lost 9.33% over the past month. This has lagged the Medical sector's loss of 1.41% and the S&P 500's loss of 0.27% in that time.
Wall Street will be looking for positivity from ABBV as it approaches its next earnings report date. In that report, analysts expect ABBV to post earnings of $3.22 per share. This would mark year-over-year growth of 13.78%. Meanwhile, our latest consensus estimate is calling for revenue of $14.44 billion, up 11.89% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.64 per share and revenue of $56.44 billion. These totals would mark changes of +19.7% and +23.23%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for ABBV. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. ABBV is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, ABBV is currently trading at a Forward P/E ratio of 8.52. This represents a discount compared to its industry's average Forward P/E of 13.14.
It is also worth noting that ABBV currently has a PEG ratio of 2.03. 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. ABBV's industry had an average PEG ratio of 2.04 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 114, which puts it in the top 45% 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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AbbVie Inc. (ABBV) : Free Stock Analysis Report
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