FY2018 EPS Estimates for AbbVie Inc (NYSE:ABBV) Lowered by Analyst
AbbVie Inc (NYSE:ABBV) – Analysts at Jefferies Group dropped their FY2018 earnings estimates for AbbVie in a report issued on Thursday, according to Zacks Investment Research. Jefferies Group analyst J. Holford now expects that the company will earn $6.58 per share for the year, down from their prior forecast of $6.61. Jefferies Group has a “Buy” rating and a $120.00 price target on the stock. Jefferies Group also issued estimates for AbbVie’s FY2019 earnings at $8.18 EPS, FY2020 earnings at $9.29 EPS, FY2021 earnings at $10.40 EPS and FY2022 earnings at $11.94 EPS.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.04. The business had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 EPS.
AbbVie (NYSE:ABBV) opened at $122.31 on Friday. The stock has a market capitalization of $194,970.00, a price-to-earnings ratio of 29.69, a PEG ratio of 1.28 and a beta of 1.53. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. AbbVie has a one year low of $59.27 and a one year high of $125.86.
In other AbbVie news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the sale, the chairman now owns 492,030 shares in the company, valued at approximately $46,255,740.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy J. Richmond sold 87,040 shares of AbbVie stock in a transaction dated 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 completion of the sale, the senior vice president now owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. Insiders sold a total of 476,376 shares of company stock valued at $45,580,873 in the last 90 days. 0.23% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. IFG Advisory LLC purchased a new stake in shares of AbbVie during the 4th quarter worth about $3,557,000. Capital Advisors Inc. OK grew its holdings in shares of AbbVie by 5.0% during the 4th quarter. Capital Advisors Inc. OK now owns 29,295 shares of the company’s stock worth $2,833,000 after purchasing an additional 1,392 shares during the period. Morse Asset Management Inc grew its holdings in shares of AbbVie by 1.7% during the 4th quarter. Morse Asset Management Inc now owns 62,545 shares of the company’s stock worth $6,049,000 after purchasing an additional 1,035 shares during the period. BTIM Corp. grew its holdings in shares of AbbVie by 2.9% during the 4th quarter. BTIM Corp. now owns 26,712 shares of the company’s stock worth $2,583,000 after purchasing an additional 750 shares during the period. Finally, Stewart & Patten Co. LLC grew its holdings in shares of AbbVie by 3.2% during the 4th quarter. Stewart & Patten Co. LLC now owns 16,054 shares of the company’s stock worth $1,552,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 69.28% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was originally posted by Marea Informative and is owned by of Marea Informative. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international trademark & copyright laws. The correct version of this news story can be accessed at https://www.mareainformativa.com/2018/01/30/fy2018-eps-estimates-for-abbvie-inc-abbv-decreased-by-analyst-updated-updated-updated.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.