AbbVie Inc (ABBV) Expected to Announce Earnings of $2.01 Per Share

Wall Street analysts predict that AbbVie Inc (NYSE:ABBV) will announce earnings per share of $2.01 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for AbbVie’s earnings. The highest EPS estimate is $2.04 and the lowest is $1.94. AbbVie posted earnings per share of $1.41 in the same quarter last year, which indicates a positive year over year growth rate of 42.6%. The firm is expected to report its next earnings results before the market opens on Friday, November 2nd.

On average, 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 expect that the firm will post earnings of $8.73 per share, with EPS estimates ranging from $8.31 to $9.13. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow AbbVie.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 27th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The business had revenue of $8.28 billion during the quarter, compared to analysts’ expectations of $8.22 billion. During the same period in the previous year, the firm earned $1.42 earnings per share. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year.

A number of equities research analysts recently commented on the company. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Wednesday, June 27th. ValuEngine cut AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. Berenberg Bank assumed coverage on AbbVie in a research note on Thursday, July 12th. They set a “hold” rating and a $105.00 price objective for the company. Jefferies Financial Group set a $100.00 price objective on AbbVie and gave the stock a “buy” rating in a research note on Sunday, July 15th. Finally, Credit Suisse Group raised AbbVie to a “hold” rating and set a $89.00 price objective for the company in a research note on Friday, July 13th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $107.21.

Shares of AbbVie stock traded up $0.94 during trading on Friday, reaching $90.69. 5,692,147 shares of the company were exchanged, compared to its average volume of 7,089,003. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of -9.06. AbbVie has a twelve month low of $85.24 and a twelve month high of $125.86. The stock has a market cap of $143.22 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 0.91 and a beta of 1.54.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be issued a dividend of $0.96 per share. The ex-dividend date is Friday, October 12th. This represents a $3.84 annualized dividend and a yield of 4.23%. AbbVie’s dividend payout ratio is presently 68.57%.

In other AbbVie news, EVP Michael Severino sold 50,000 shares of AbbVie stock in a transaction dated 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 transaction, 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 SEC, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ABBV. Cornerstone Wealth Management LLC lifted its holdings in AbbVie by 8,774.3% during the second quarter. Cornerstone Wealth Management LLC now owns 1,102,183 shares of the company’s stock worth $11,837,000 after acquiring an additional 1,089,763 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of AbbVie by 7,637.2% in the first quarter. Summit Trail Advisors LLC now owns 997,253 shares of the company’s stock valued at $997,000 after purchasing an additional 984,364 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of AbbVie by 15.9% in the second quarter. Janus Henderson Group PLC now owns 5,243,956 shares of the company’s stock valued at $485,867,000 after purchasing an additional 717,452 shares in the last quarter. Royal London Asset Management Ltd. bought a new stake in shares of AbbVie in the second quarter valued at about $62,780,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of AbbVie by 34.6% in the second quarter. Renaissance Technologies LLC now owns 2,362,283 shares of the company’s stock valued at $218,866,000 after purchasing an additional 606,627 shares in the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

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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Earnings History and Estimates for AbbVie (NYSE:ABBV)

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