AbbVie (ABBV) Ascends While Market Falls: Some Facts to Note

AbbVie (ABBV) closed at $220.81 in the latest trading session, marking a +2.1% move from the prior day. This move outpaced the S&P 500's daily loss of 0.1%. At the same time, the Dow added 0.57%, and the tech-heavy Nasdaq lost 0.33%. Coming into today, shares of the drugmaker had gained 4.88% in the past month. In that same time, the Medical sector gained 0.86%, while the S&P 500 gained 2.57%. Market participants will be closely following the financial results of AbbVie in its upcoming release. The company is expected to report EPS of $3.26, up 8.67% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $15.54 billion, showing a 7.5% escalation compared to the year-ago quarter. For the full year, the Zacks Consensus Estimates project earnings of $12.02 per share and a revenue of $60.64 billion, demonstrating changes of +18.77% and +7.64%, respectively, from the preceding year. Investors should also take note of any recent adjustments to analyst estimates for AbbVie. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.14% decrease. Right now, AbbVie possesses a Zacks Rank of #3 (Hold). In terms of valuation, AbbVie is presently being traded at a Forward P/E ratio of 18. This signifies a premium in comparison to the average Forward P/E of 14.13 for its industry. One should further note that ABBV currently holds a PEG ratio of 1.39. 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. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 1.56. The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 52, putting it in the top 22% of all 250+ industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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. Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum 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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks