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AbbVie (ABBV) Increases Despite Market Slip: Here's What You Need to Know

The latest trading session saw AbbVie (ABBV) ending at $164.25, denoting a +1.05% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily loss of 0.58%. On the other hand, the Dow registered a loss of 0.12%, and the technology-centric Nasdaq decreased by 1.15%.

Prior to today's trading, shares of the drugmaker had lost 9.53% over the past month. This has lagged the Medical sector's loss of 6.07% and the S&P 500's loss of 1.09% in that time.

Market participants will be closely following the financial results of AbbVie in its upcoming release. The company plans to announce its earnings on April 26, 2024. The company's upcoming EPS is projected at $2.26, signifying an 8.13% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $11.99 billion, indicating a 1.95% downward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $11.12 per share and revenue of $54.61 billion, which would represent changes of +0.09% and +0.54%, respectively, from the prior year.

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Investors should also pay attention to any latest changes in analyst estimates for AbbVie. Such recent modifications usually signify the changing landscape of near-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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.23% increase. AbbVie is currently a Zacks Rank #3 (Hold).

Looking at valuation, AbbVie is presently trading at a Forward P/E ratio of 14.62. This denotes a premium relative to the industry's average Forward P/E of 13.56.

It's also important to note that ABBV currently trades at a PEG ratio of 2.1. 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. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 1.67.

The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% of all 250+ industries.

The Zacks Industry Rank is ordered 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.

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AbbVie Inc. (ABBV) : Free Stock Analysis Report

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