Analysts Anticipate AbbVie Inc. (ABBV) Will Post Earnings of $1.38 Per Share
Wall Street brokerages forecast that AbbVie Inc. (NYSE:ABBV) will report earnings of $1.38 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for AbbVie’s earnings, with the highest EPS estimate coming in at $1.40 and the lowest estimate coming in at $1.36. AbbVie reported earnings of $1.21 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 14%. The firm is scheduled to announce its next quarterly earnings report on Friday, October 27th.
According to Zacks, 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 anticipate that the company will report earnings of $6.57 per share, with EPS estimates ranging from $6.32 to $7.07. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow AbbVie.
AbbVie (NYSE:ABBV) last released its quarterly earnings results 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. AbbVie had a net margin of 24.77% and a return on equity of 154.76%. The company had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis.
Several research analysts recently commented on ABBV shares. Vetr downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $71.84 price objective for the company. in a report on Monday, May 15th. Jefferies Group LLC reaffirmed a “buy” rating on shares of AbbVie in a report on Friday, May 26th. Societe Generale raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. BidaskClub downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $85.00 price objective on shares of AbbVie in a report on Thursday, August 3rd. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $75.35.
AbbVie (ABBV) traded up 0.35% during midday trading on Thursday, hitting $71.47. 4,398,003 shares of the stock were exchanged. AbbVie has a 1-year low of $55.06 and a 1-year high of $75.04. The firm’s 50-day moving average price is $72.12 and its 200 day moving average price is $66.41. The firm has a market capitalization of $113.75 billion, a P/E ratio of 17.58 and a beta of 1.50. AbbVie also saw unusually large options trading activity on Monday. Stock traders bought 278 put options on the stock. This is an increase of 121% compared to the average daily volume of 126 put options.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Wednesday, July 12th. AbbVie’s payout ratio is presently 62.90%.
In related news, Chairman Richard A. Gonzalez sold 87,899 shares of AbbVie stock in a transaction on Friday, August 4th. The shares were sold at an average price of $71.02, for a total value of $6,242,586.98. Following the transaction, the chairman now owns 342,353 shares in the company, valued at approximately $24,313,910.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO William J. Chase sold 38,300 shares of AbbVie stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the completion of the transaction, the chief financial officer now owns 209,043 shares in the company, valued at approximately $13,660,960.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 600,026 shares of company stock worth $41,852,724. 0.23% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Atwood & Palmer Inc. boosted its position in shares of AbbVie by 120.9% in the second quarter. Atwood & Palmer Inc. now owns 4,750 shares of the company’s stock worth $344,000 after buying an additional 2,600 shares during the last quarter. RBO & Co. LLC boosted its position in shares of AbbVie by 0.9% in the second quarter. RBO & Co. LLC now owns 109,848 shares of the company’s stock worth $7,965,000 after buying an additional 967 shares during the last quarter. Good Life Advisors LLC acquired a new position in shares of AbbVie during the second quarter worth approximately $247,000. Gratus Capital LLC acquired a new position in shares of AbbVie during the second quarter worth approximately $5,490,000. Finally, Sullivan Bruyette Speros & Blaney LLC boosted its position in shares of AbbVie by 2.9% in the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 15,051 shares of the company’s stock worth $1,091,000 after buying an additional 424 shares during the last quarter. Institutional investors own 67.89% of the company’s stock.
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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