Zacks: Brokerages Anticipate AbbVie Inc (ABBV) to Post $1.43 Earnings Per Share
Brokerages expect AbbVie Inc (NYSE:ABBV) to report earnings per share of $1.43 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for AbbVie’s earnings, with the lowest EPS estimate coming in at $1.42 and the highest estimate coming in at $1.46. AbbVie reported earnings per share of $1.20 during the same quarter last year, which indicates a positive year-over-year growth rate of 19.2%. The company is expected to issue its next earnings results on Friday, January 26th.
According to Zacks, analysts expect that AbbVie will report full year earnings of $5.55 per share for the current fiscal year, with EPS estimates ranging from $5.53 to $5.59. For the next financial year, analysts forecast that the business will post earnings of $6.56 per share, with EPS estimates ranging from $6.40 to $6.99. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow AbbVie.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter in the previous year, the firm earned $1.21 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year.
In other AbbVie news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the transaction, the chairman now directly owns 492,030 shares of the company’s stock, valued at approximately $46,255,740.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Robert A. Michael sold 6,699 shares of AbbVie stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the transaction, the vice president now directly owns 10,007 shares of the company’s stock, valued at $880,616. The disclosure for this sale can be found here. Insiders have sold a total of 268,825 shares of company stock valued at $25,186,090 over the last three months. Corporate insiders own 0.23% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABBV. Acropolis Investment Management LLC purchased a new stake in AbbVie during the second quarter worth approximately $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in AbbVie in the first quarter valued at approximately $108,000. Hudock Capital Group LLC lifted its stake in AbbVie by 109.5% in the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after buying an additional 806 shares during the last quarter. Ffcm LLC lifted its stake in AbbVie by 167.2% in the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after buying an additional 963 shares during the last quarter. Finally, Bristlecone Advisors LLC purchased a new stake in AbbVie in the third quarter valued at approximately $113,000. 69.32% of the stock is owned by institutional investors.
AbbVie (NYSE:ABBV) traded down $0.17 during midday trading on Tuesday, hitting $96.30. The stock had a trading volume of 4,195,157 shares, compared to its average volume of 6,102,393. AbbVie has a fifty-two week low of $59.27 and a fifty-two week high of $98.52. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. The stock has a market cap of $153,177.45, a price-to-earnings ratio of 18.07, a PEG ratio of 1.33 and a beta of 1.52.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.95%. This is an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is presently 62.29%.
COPYRIGHT VIOLATION NOTICE: This piece of content was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/12/12/zacks-brokerages-anticipate-abbvie-inc-abbv-to-post-1-43-earnings-per-share.html.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.