AbbVie (ABBV) Stock Moves -0.33%: What You Should Know
In the latest trading session, AbbVie (ABBV) closed at $108.73, marking a -0.33% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.3%.
Coming into today, shares of the drugmaker had lost 2.27% in the past month. In that same time, the Medical sector lost 6.02%, while the S&P 500 lost 3.58%.
Wall Street will be looking for positivity from ABBV as it approaches its next earnings report date. The company is expected to report EPS of $3.24, up 14.49% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $14.48 billion, up 12.25% from the prior-year quarter.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $12.66 per share and revenue of $56.59 billion. These results would represent year-over-year changes of +19.89% and +23.54%, respectively.
Investors might also notice recent changes to analyst estimates for ABBV. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.06% lower. ABBV is currently a Zacks Rank #3 (Hold).
Looking at its valuation, ABBV is holding a Forward P/E ratio of 8.62. This valuation marks a discount compared to its industry's average Forward P/E of 13.34.
It is also worth noting that ABBV currently has a PEG ratio of 2.05. 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 2.03 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 71, which puts it in the top 28% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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