Yahoo Finance AbbVie (ABBV) Stock Dips While Market Gains: Key Facts
The most recent trading session ended with AbbVie (ABBV) standing at $170.75, reflecting a -1.15% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.09%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, added 0.16%.
Heading into today, shares of the drugmaker had gained 9.98% over the past month, outpacing the Medical sector's gain of 2.3% and the S&P 500's gain of 2.83% in that time.
Investors will be eagerly watching for the performance of AbbVie in its upcoming earnings disclosure. The company is expected to report EPS of $3.06, up 5.15% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.04 billion, up 1.29% from the year-ago period.
ABBV's full-year Zacks Consensus Estimates are calling for earnings of $11.27 per share and revenue of $55.35 billion. These results would represent year-over-year changes of +1.44% and +1.9%, respectively.
Any recent changes to analyst estimates for AbbVie should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.07% increase. AbbVie currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, AbbVie is currently exchanging hands at a Forward P/E ratio of 15.33. This expresses a premium compared to the average Forward P/E of 14.7 of its industry.
Also, we should mention that ABBV has a PEG ratio of 2.21. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Large Cap Pharmaceuticals industry had an average PEG ratio of 1.8.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 81, this industry ranks in the top 33% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
