ABBVIE Stock- Zacks: Analysts Expect AbbVie Inc. (NYSE:ABBV) Will Announce Earnings of $2.91 Per Share
Analysts expect AbbVie Inc. (NYSE:ABBV) to post earnings of $2.91 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for AbbVie’s earnings, with the lowest EPS estimate coming in at $2.03 and the highest estimate coming in at $3.12. AbbVie reported earnings of $2.34 per share during the same quarter last year, which indicates a positive year over year growth rate of 24.4%. The firm is expected to issue its next quarterly earnings report on Friday, July 30th.
According to Zacks, analysts expect that AbbVie will report full year earnings of $12.60 per share for the current financial year, with EPS estimates ranging from $12.50 to $12.97. For the next fiscal year, analysts anticipate that the company will report earnings of $14.00 per share, with EPS estimates ranging from $13.59 to $14.65. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover AbbVie.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, April 29th. The company reported $2.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.12. AbbVie had a net margin of 10.28% and a return on equity of 136.75%. The business had revenue of $13.01 billion during the quarter, compared to the consensus estimate of $12.84 billion. During the same quarter in the prior year, the firm earned $2.42 EPS. The firm’s quarterly revenue was up 50.9% on a year-over-year basis.
ABBV has been the subject of a number of research reports. Mizuho raised their price objective on AbbVie from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, May 3rd. BMO Capital Markets raised their price target on shares of AbbVie from $127.00 to $129.00 and gave the stock an “outperform” rating in a report on Monday, May 3rd. Piper Sandler upped their price objective on shares of AbbVie from $120.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday, April 30th. Royal Bank of Canada started coverage on shares of AbbVie in a research note on Wednesday, April 7th. They set a $135.00 target price for the company. Finally, SVB Leerink boosted their price target on shares of AbbVie from $140.00 to $144.00 and gave the company an “outperform” rating in a report on Tuesday, March 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company’s stock. AbbVie has a consensus rating of “Buy” and an average price target of $119.07.
In other AbbVie news, SVP Carrie C. Strom sold 4,184 shares of the business’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $112.40, for a total value of $470,281.60. Following the completion of the sale, the senior vice president now owns 63,409 shares of the company’s stock, valued at $7,127,171.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Corundum Group Inc. lifted its position in AbbVie by 2.1% during the 1st quarter. Corundum Group Inc. now owns 4,151 shares of the company’s stock worth $449,000 after acquiring an additional 87 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in shares of AbbVie by 24.1% during the 1st quarter. Loomis Sayles & Co. L P now owns 459 shares of the company’s stock worth $50,000 after purchasing an additional 89 shares during the last quarter. Howard Financial Services LTD. boosted its stake in AbbVie by 2.8% during the 1st quarter. Howard Financial Services LTD. now owns 3,396 shares of the company’s stock valued at $368,000 after purchasing an additional 91 shares during the period. Old North State Trust LLC grew its holdings in AbbVie by 1.5% in the 1st quarter. Old North State Trust LLC now owns 6,415 shares of the company’s stock valued at $694,000 after buying an additional 92 shares during the last quarter. Finally, ICW Investment Advisors LLC increased its position in AbbVie by 0.4% in the 1st quarter. ICW Investment Advisors LLC now owns 22,739 shares of the company’s stock worth $2,461,000 after buying an additional 93 shares during the period. 66.07% of the stock is currently owned by institutional investors.
Shares of ABBV stock opened at $115.42 on Monday. The stock has a market capitalization of $203.86 billion, a P/E ratio of 40.78, a price-to-earnings-growth ratio of 1.73 and a beta of 0.83. AbbVie has a 1-year low of $79.11 and a 1-year high of $118.28. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 5.40. The company’s fifty day simple moving average is $112.32.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal BehÃ§et’s diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenstrÃ¶m’s macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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