Advertisement
Singapore markets open in 45 minutes

  • Straits Times Index

    3,187.66
    +32.97 (+1.05%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • Dow

    37,775.38
    +22.07 (+0.06%)
     

  • Nasdaq

    15,601.50
    -81.87 (-0.52%)
     

  • Bitcoin USD

    63,046.07
    +1,917.22 (+3.14%)
     

  • CMC Crypto 200

    1,311.36
    +425.83 (+48.10%)
     

  • FTSE 100

    7,877.05
    +29.06 (+0.37%)
     

  • Gold

    2,393.00
    -5.00 (-0.21%)
     

  • Crude Oil

    82.64
    -0.09 (-0.11%)
     

  • 10-Yr Bond

    4.6470
    +0.0620 (+1.35%)
     

  • Nikkei

    38,079.70
    0.00 (0.00%)
     

  • Hang Seng

    16,385.87
    +134.03 (+0.82%)
     

  • FTSE Bursa Malaysia

    1,544.76
    +4.34 (+0.28%)
     

  • Jakarta Composite Index

    7,166.81
    -7,130.84 (-49.87%)
     

  • PSE Index

    6,523.19
    +73.15 (+1.13%)
     

Increased Earnings Estimates Seen for AbbVie (ABBV): Can It Move Higher?

Zacks Equity Research
·2-min read

AbbVie Inc. ABBV is a global, research-based biopharmaceutical company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ABBV’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that AbbVie could be a solid choice for investors.

Current Quarter Estimates for ABBV

In the past 30 days, one estimate has gone higher for AbbVie while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from $2.13 a share 30 days ago, to $2.33 today, a move of 9.4%.

Current Year Estimates for ABBV

Meanwhile, AbbVie’s current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $9.22 per share 30 days ago to $10.71 per share today, an increase of 16.2%.

AbbVie Inc. Price and Consensus

AbbVie Inc. Price and Consensus
AbbVie Inc. Price and Consensus

AbbVie Inc. price-consensus-chart | AbbVie Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 10.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

Zacks Top 10 Stocks for 2020

In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?

Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.

Access Zacks Top 10 Stocks for 2020 today >>


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.
 
Zacks Investment Research