AbbVie Inc. (ABBV) Expected to Announce Earnings of $1.37 Per Share
Equities analysts expect AbbVie Inc. (NYSE:ABBV) to report $1.37 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for AbbVie’s earnings. The highest EPS estimate is $1.39 and the lowest is $1.36. AbbVie reported earnings of $1.21 per share in the same quarter last year, which indicates a positive year over year growth rate of 13.2%. The firm is expected to announce its next earnings report on Friday, October 27th.
On average, analysts expect that AbbVie will report full year earnings of $5.52 per share for the current financial year, with EPS estimates ranging from $5.47 to $5.57. For the next year, analysts expect that the company will report earnings of $6.56 per share, with EPS estimates ranging from $6.32 to $7.07. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover AbbVie.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. The business had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.93 billion. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.26 earnings per share.
Several research analysts have weighed in on ABBV shares. Credit Suisse Group reissued a “hold” rating and set a $65.00 target price on shares of AbbVie in a report on Wednesday, June 7th. BMO Capital Markets reissued a “market perform” rating and set a $66.00 target price on shares of AbbVie in a report on Wednesday, May 17th. Zacks Investment Research lowered AbbVie from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Societe Generale raised AbbVie from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Jefferies Group LLC reissued a “buy” rating on shares of AbbVie in a report on Friday, May 26th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. AbbVie has a consensus rating of “Buy” and an average target price of $77.33.
WARNING: This piece of content was reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another website, it was stolen and reposted in violation of United States and international copyright & trademark laws. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/09/09/abbvie-inc-abbv-expected-to-announce-earnings-of-1-37-per-share.html.
In other news, Chairman Richard A. Gonzalez sold 87,899 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $71.02, for a total transaction of $6,242,586.98. Following the completion of the transaction, the chairman now directly owns 342,353 shares in the company, valued at $24,313,910.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard A. Gonzalez sold 65,861 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $71.00, for a total value of $4,676,131.00. Following the transaction, the chief executive officer now owns 342,353 shares of the company’s stock, valued at $24,307,063. The disclosure for this sale can be found here. Insiders have sold 490,491 shares of company stock valued at $34,684,639 over the last 90 days. 0.23% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of ABBV. First Command Financial Services Inc. increased its holdings in AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock worth $102,000 after purchasing an additional 99 shares in the last quarter. Acropolis Investment Management LLC bought a new stake in AbbVie in the second quarter worth approximately $106,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in AbbVie in the first quarter worth approximately $108,000. Hudock Capital Group LLC increased its holdings in AbbVie by 109.5% in the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after purchasing an additional 806 shares in the last quarter. Finally, Ffcm LLC increased its holdings in AbbVie by 167.2% in the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after purchasing an additional 963 shares in the last quarter. Institutional investors and hedge funds own 68.29% of the company’s stock.
AbbVie (NYSE ABBV) traded up 4.35% during midday trading on Friday, hitting $85.34. 14,809,087 shares of the stock traded hands. The firm has a market cap of $136.04 billion, a P/E ratio of 20.99 and a beta of 1.48. The company has a 50-day moving average price of $72.74 and a 200-day moving average price of $68.51. AbbVie has a 1-year low of $55.06 and a 1-year high of $86.09.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th were paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Wednesday, July 12th. AbbVie’s payout ratio is 62.90%.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AbbVie Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc. and related companies with MarketBeat.com's FREE daily email newsletter.