Zacks: Analysts Anticipate AbbVie Inc (ABBV) Will Announce Earnings of $1.49 Per Share

Wall Street brokerages predict that AbbVie Inc (NYSE:ABBV) will post $1.49 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for AbbVie’s earnings. The highest EPS estimate is $1.56 and the lowest is $1.42. AbbVie posted earnings of $1.28 per share in the same quarter last year, which would suggest a positive year over year growth rate of 16.4%. The firm is expected to issue its next earnings results on Friday, January 26th.

On average, analysts expect that AbbVie will report full-year earnings of $6.58 per share for the current year, with EPS estimates ranging from $6.40 to $6.99. For the next fiscal year, analysts anticipate that the business will post earnings of $7.97 per share, with EPS estimates ranging from $7.30 to $9.37. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow AbbVie.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.04. The company had revenue of $7.74 billion for the quarter, compared to analysts’ expectations of $7.53 billion. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share.

A number of research analysts have commented on the company. Evercore ISI restated a “buy” rating and set a $144.00 price objective on shares of AbbVie in a research note on Monday. Credit Suisse Group reiterated a “neutral” rating and issued a $135.00 price target (up previously from $98.00) on shares of AbbVie in a research note on Monday. Leerink Swann cut AbbVie from an “outperform” rating to a “market perform” rating and set a $107.00 price target on the stock. in a research note on Monday. SunTrust Banks boosted their price target on AbbVie to $157.00 and gave the stock an “average” rating in a research note on Monday. Finally, Piper Jaffray Companies boosted their price target on AbbVie from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and a consensus price target of $110.02.

In other news, EVP Michael Severino sold 25,633 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $94.69, for a total transaction of $2,427,188.77. Following the completion of the transaction, the executive vice president now directly owns 114,922 shares of the company’s stock, valued at $10,881,964.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy J. Richmond sold 87,040 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the transaction, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The disclosure for this sale can be found here. Insiders have sold 476,376 shares of company stock valued at $45,580,873 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Formidable Asset Management LLC lifted its position in AbbVie by 0.3% in the second quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock worth $285,000 after purchasing an additional 10 shares during the period. WealthTrust Axiom LLC lifted its position in AbbVie by 0.3% in the second quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock worth $312,000 after purchasing an additional 15 shares during the period. Abner Herrman & Brock LLC lifted its position in AbbVie by 0.3% in the second quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock worth $456,000 after purchasing an additional 18 shares during the period. St. Louis Trust Co lifted its position in AbbVie by 0.7% in the second quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock worth $248,000 after purchasing an additional 23 shares during the period. Finally, TRUE Private Wealth Advisors lifted its position in shares of AbbVie by 0.6% during the 2nd quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock valued at $349,000 after acquiring an additional 27 shares during the last quarter. 69.28% of the stock is owned by institutional investors and hedge funds.

Shares of AbbVie (NYSE ABBV) traded down $1.08 on Monday, hitting $122.13. The company’s stock had a trading volume of 5,670,301 shares, compared to its average volume of 5,841,322. The firm has a market capitalization of $194,890.00, a PE ratio of 29.59, a PEG ratio of 1.28 and a beta of 1.53. AbbVie has a 12 month low of $59.27 and a 12 month high of $125.86. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45.

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AbbVie Company Profile

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.

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Earnings History and Estimates for AbbVie (NYSE:ABBV)

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