Zacks: Analysts Anticipate AbbVie Inc. (NYSE:ABBV) Will Announce Earnings of $2.78 Per Share

Equities analysts forecast that AbbVie Inc. (NYSE:ABBV) will announce $2.78 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for AbbVie’s earnings, with the highest EPS estimate coming in at $2.87 and the lowest estimate coming in at $2.74. AbbVie reported earnings per share of $2.33 in the same quarter last year, which would indicate a positive year-over-year growth rate of 19.3%. The business is scheduled to announce its next earnings results before the market opens on Friday, October 30th.

According to Zacks, analysts expect that AbbVie will report full-year earnings of $10.45 per share for the current fiscal year, with EPS estimates ranging from $10.35 to $10.68. For the next fiscal year, analysts anticipate that the business will report earnings of $12.17 per share, with EPS estimates ranging from $12.00 to $12.42. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that follow AbbVie.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.14. The firm had revenue of $10.43 billion during the quarter, compared to analysts’ expectations of $10.14 billion. AbbVie had a net margin of 19.20% and a negative return on equity of 628.57%. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter last year, the company posted $2.26 EPS.

A number of research firms recently issued reports on ABBV. Atlantic Securities upgraded shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $115.00 target price for the company in a report on Tuesday, June 23rd. Morgan Stanley boosted their price objective on shares of AbbVie from $95.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Mizuho reiterated a “buy” rating and set a $111.00 price objective on shares of AbbVie in a research note on Sunday, September 27th. Citigroup boosted their price objective on shares of AbbVie from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. upped their target price on shares of AbbVie from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $108.63.

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of AbbVie by 21.7% during the second quarter. BlackRock Inc. now owns 123,356,424 shares of the company’s stock worth $12,111,133,000 after acquiring an additional 21,974,440 shares during the last quarter. Vanguard Group Inc. raised its position in shares of AbbVie by 17.3% during the second quarter. Vanguard Group Inc. now owns 147,386,808 shares of the company’s stock worth $14,470,438,000 after acquiring an additional 21,786,239 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of AbbVie by 46.4% during the second quarter. Nuveen Asset Management LLC now owns 22,124,489 shares of the company’s stock worth $2,172,182,000 after acquiring an additional 7,007,887 shares during the last quarter. Nordea Investment Management AB raised its position in shares of AbbVie by 148.1% during the second quarter. Nordea Investment Management AB now owns 5,964,626 shares of the company’s stock worth $573,976,000 after acquiring an additional 3,560,895 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of AbbVie by 15.0% during the second quarter. Bank of New York Mellon Corp now owns 21,387,563 shares of the company’s stock worth $2,099,832,000 after acquiring an additional 2,797,448 shares during the last quarter. 68.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie stock traded down $0.13 during trading on Friday, reaching $84.18. The company had a trading volume of 49,000 shares, compared to its average volume of 9,717,286. AbbVie has a 12-month low of $62.55 and a 12-month high of $101.28. The stock’s 50 day moving average price is $88.90 and its two-hundred day moving average price is $90.63. The firm has a market capitalization of $148.79 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.39 and a beta of 0.74. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.70 and a current ratio of 0.86.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date is Wednesday, October 14th. AbbVie’s payout ratio is presently 52.80%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Earnings History and Estimates for AbbVie (NYSE:ABBV)

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