Send me real-time posts from this site at my email
Zacks

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.


Breakout Biotech Stocks with Triple-Digit Profit Potential

The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.

Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.

See these 7 breakthrough stocks now>>

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
 
To read this article on Zacks.com click here.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue