Analysts expect that AbbVie Inc (NYSE:ABBV) will post earnings of $2.01 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for AbbVie’s earnings. The lowest EPS estimate is $1.94 and the highest is $2.04. AbbVie posted earnings per share of $1.41 during the same quarter last year, which would indicate a positive year-over-year growth rate of 42.6%. The company is scheduled to report its next quarterly earnings report before the market opens on Friday, November 2nd.
According to Zacks, analysts expect that AbbVie will report full-year earnings of $7.86 per share for the current financial year, with EPS estimates ranging from $7.80 to $7.99. For the next fiscal year, analysts forecast that the firm will report earnings of $8.73 per share, with EPS estimates ranging from $8.31 to $9.13. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for AbbVie.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, July 27th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.98 by $0.02. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The company had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.22 billion. During the same quarter in the prior year, the business earned $1.42 earnings per share. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis.
ABBV has been the topic of several research reports. ValuEngine downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, June 22nd. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research report on Wednesday, June 27th. Berenberg Bank initiated coverage on AbbVie in a research note on Thursday, July 12th. They issued a “hold” rating and a $105.00 price target for the company. Credit Suisse Group upgraded AbbVie to a “hold” rating and set a $89.00 price target for the company in a research note on Friday, July 13th. Finally, Jefferies Financial Group set a $100.00 price target on AbbVie and gave the company a “buy” rating in a research note on Sunday, July 15th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. AbbVie presently has an average rating of “Hold” and a consensus target price of $107.21.
In other AbbVie news, EVP Michael Severino sold 50,000 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the completion of the sale, the executive vice president now directly owns 111,481 shares in the company, valued at $10,871,627.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABBV. Mainstay Capital Management LLC ADV lifted its stake in AbbVie by 6,123.5% during the second quarter. Mainstay Capital Management LLC ADV now owns 12,447 shares of the company’s stock worth $143,000 after purchasing an additional 12,247 shares during the last quarter. Fairfield Bush & CO. bought a new position in shares of AbbVie in the 1st quarter valued at $146,000. First Mercantile Trust Co. bought a new position in shares of AbbVie in the 2nd quarter valued at $150,000. Centaurus Financial Inc. bought a new position in shares of AbbVie in the 1st quarter valued at $153,000. Finally, MUFG Securities EMEA plc bought a new position in shares of AbbVie in the 2nd quarter valued at $157,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.
Shares of AbbVie stock traded up $0.94 on Friday, hitting $90.69. The stock had a trading volume of 5,692,147 shares, compared to its average volume of 7,089,003. AbbVie has a twelve month low of $85.24 and a twelve month high of $125.86. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of -9.06. The company has a market capitalization of $143.22 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 0.91 and a beta of 1.54.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Friday, October 12th. AbbVie’s dividend payout ratio (DPR) is currently 68.57%.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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