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In the latest trading session, AbbVie (ABBV) closed at $108.22, marking a -0.03% move from the previous day. This change lagged the S&P 500's daily gain of 0.33%.
Heading into today, shares of the drugmaker had lost 0.63% over the past month, outpacing the Medical sector's loss of 4.07% and lagging the S&P 500's gain of 4.77% in that time.
ABBV will be looking to display strength as it nears its next earnings release, which is expected to be April 30, 2021. On that day, ABBV is projected to report earnings of $2.76 per share, which would represent year-over-year growth of 14.05%. Our most recent consensus estimate is calling for quarterly revenue of $12.95 billion, up 50.26% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.50 per share and revenue of $55.83 billion, which would represent changes of +18.37% and +21.9%, respectively, from the prior year.
Any recent changes to analyst estimates for ABBV should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 0.01% higher within the past month. ABBV currently has a Zacks Rank of #2 (Buy).
Digging into valuation, ABBV currently has a Forward P/E ratio of 8.6. This represents a discount compared to its industry's average Forward P/E of 13.63.
We can also see that ABBV currently has a PEG ratio of 1.79. 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. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.88 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 233, which puts it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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