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AbbVie (ABBV) Stock Dips While Market Gains: Key Facts September 17, 2024
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The latest trading session saw AbbVie (ABBV - Free Report) ending at $193.45, denoting a -1.16% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.03%. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 0.2%.
Heading into today, shares of the drugmaker had lost 0.58% over the past month, lagging the Medical sector's gain of 2.67% and the S&P 500's gain of 1.54% in that time.
The upcoming earnings release of AbbVie will be of great interest to investors. The company is forecasted to report an EPS of $2.95, showcasing no movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $14.25 billion, up 2.31% from the year-ago period.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $10.87 per share and revenue of $55.8 billion. These results would represent year-over-year changes of -2.16% and +2.73%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for AbbVie. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. AbbVie is currently a Zacks Rank #3 (Hold).
From a valuation perspective, AbbVie is currently exchanging hands at a Forward P/E ratio of 18.01. Its industry sports an average Forward P/E of 16.14, so one might conclude that AbbVie is trading at a premium comparatively.
It is also worth noting that ABBV currently has a PEG ratio of 2.67. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.7 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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The latest trading session saw AbbVie (ABBV - Free Report) ending at $193.45, denoting a -1.16% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.03%. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 0.2%.
Heading into today, shares of the drugmaker had lost 0.58% over the past month, lagging the Medical sector's gain of 2.67% and the S&P 500's gain of 1.54% in that time.
The upcoming earnings release of AbbVie will be of great interest to investors. The company is forecasted to report an EPS of $2.95, showcasing no movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $14.25 billion, up 2.31% from the year-ago period.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $10.87 per share and revenue of $55.8 billion. These results would represent year-over-year changes of -2.16% and +2.73%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for AbbVie. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. AbbVie is currently a Zacks Rank #3 (Hold).
From a valuation perspective, AbbVie is currently exchanging hands at a Forward P/E ratio of 18.01. Its industry sports an average Forward P/E of 16.14, so one might conclude that AbbVie is trading at a premium comparatively.
It is also worth noting that ABBV currently has a PEG ratio of 2.67. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.7 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.