AbbVie (ABBV) Stock Moves -0.21%: What You Should Know

AbbVie (ABBV) closed the most recent trading day at $194.35, moving -0.21% from the previous trading session. This change traded in line with S&P 500. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq decreased by 0.05%.The drugmaker's stock has climbed by 0.08% in the past month, exceeding the Medical sector's loss of 3.28% and lagging the S&P 500's gain of 5.94%.The investment community will be paying close attention to the earnings performance of AbbVie in its upcoming release. The company is slated to reveal its earnings on October 30, 2024. The company's earnings per share (EPS) are projected to be $2.95, reflecting no change from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $14.25 billion, up 2.31% from the prior-year quarter.For the full year, the Zacks Consensus Estimates project earnings of $10.88 per share and a revenue of $55.8 billion, demonstrating changes of -2.07% and +2.73%, respectively, from the preceding year.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for AbbVie. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.05% decrease. AbbVie is currently a Zacks Rank #3 (Hold).With respect to valuation, AbbVie is currently being traded at a Forward P/E ratio of 17.91. This expresses a premium compared to the average Forward P/E of 15.73 of its industry.Investors should also note that ABBV has a PEG ratio of 2.66 right now. 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. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.65 at yesterday's closing price.The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 94, positioning it in the top 38% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks