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The most recent trading session ended with AbbVie (ABBV) standing at $169.91, reflecting a +1.05% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.88%. Elsewhere, the Dow saw an upswing of 0.08%, while the tech-heavy Nasdaq depreciated by 1.95%.

The drugmaker's stock has climbed by 1.23% in the past month, exceeding the Medical sector's loss of 1.09% and lagging the S&P 500's gain of 5.11%.

Investors will be eagerly watching for the performance of AbbVie in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 25, 2024. The company is expected to report EPS of $3.02, up 3.78% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $14.04 billion, up 1.29% from the prior-year quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $11.19 per share and a revenue of $55.35 billion, signifying shifts of +0.72% and +1.9%, respectively, from the last year.

Investors should also pay attention to any latest changes in analyst estimates 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.67% lower. AbbVie currently has a Zacks Rank of #3 (Hold).

Looking at its valuation, AbbVie is holding a Forward P/E ratio of 15.03. Its industry sports an average Forward P/E of 14.9, so one might conclude that AbbVie is trading at a premium comparatively.

Meanwhile, ABBV's PEG ratio is currently 2.09. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 1.88.

The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 101, putting it in the top 41% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.

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