Yahoo Finance AbbVie (ABBV) Stock Sinks As Market Gains: What You Should Know
AbbVie (ABBV) closed the most recent trading day at $148.55, moving -0.7% from the previous trading session. This change lagged the S&P 500's daily gain of 1.19%. At the same time, the Dow added 0.76%, and the tech-heavy Nasdaq gained 0.29%.
Heading into today, shares of the drugmaker had lost 8.28% over the past month, lagging the Medical sector's gain of 0.84% and the S&P 500's gain of 4.06% in that time.
Investors will be hoping for strength from AbbVie as it approaches its next earnings release, which is expected to be February 9, 2023. In that report, analysts expect AbbVie to post earnings of $3.65 per share. This would mark year-over-year growth of 10.27%. Our most recent consensus estimate is calling for quarterly revenue of $15.37 billion, up 3.25% from the year-ago period.
Any recent changes to analyst estimates for AbbVie should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 2.13% higher. AbbVie is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, AbbVie is currently trading at a Forward P/E ratio of 12.82. Its industry sports an average Forward P/E of 14.63, so we one might conclude that AbbVie is trading at a discount comparatively.
Meanwhile, ABBV's PEG ratio is currently 3.2. 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. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.8 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 46, which puts it in the top 19% 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.
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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AbbVie Inc. (ABBV) : Free Stock Analysis Report
