AbbVie (NYSE:ABBV) Releases FY 2020 Pre-Market Earnings Guidance

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AbbVie (NYSE:ABBV) issued an update on its FY 2020
Pre-Market earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 10.35-10.45 for the period, compared to the Thomson Reuters consensus estimate of $10.32. AbbVie also updated its FY20 guidance to $10.35-10.45 EPS.

Shares of AbbVie stock traded down $1.13 during trading on Friday, reaching $94.91. The company’s stock had a trading volume of 14,614,332 shares, compared to its average volume of 5,717,843. The company has a 50-day moving average price of $97.25 and a two-hundred day moving average price of $88.40. The firm has a market cap of $141.83 billion, a PE ratio of 16.80, a P/E/G ratio of 1.65 and a beta of 0.86. AbbVie has a fifty-two week low of $62.55 and a fifty-two week high of $101.28.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 31st. The company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.14. The business had revenue of $10.43 billion for the quarter, compared to analysts’ expectations of $10.14 billion. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. The company’s quarterly revenue was up 26.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.26 EPS. As a group, sell-side analysts anticipate that AbbVie will post 10.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be paid a $1.18 dividend. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a $4.72 annualized dividend and a yield of 4.97%. AbbVie’s dividend payout ratio is currently 52.80%.

Several equities analysts have issued reports on the stock. TheStreet raised shares of AbbVie from a c+ rating to a b- rating in a research note on Friday, June 12th. Bank of America assumed coverage on shares of AbbVie in a research note on Monday, May 18th. They issued a neutral rating and a $95.00 price objective on the stock. Atlantic Securities raised shares of AbbVie from a neutral rating to an overweight rating and set a $115.00 price objective on the stock in a research note on Tuesday, June 23rd. Argus raised shares of AbbVie from a hold rating to a buy rating and boosted their price objective for the company from $91.40 to $115.00 in a research note on Tuesday, June 2nd. Finally, ValuEngine cut shares of AbbVie from a sell rating to a strong sell rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. AbbVie currently has an average rating of Buy and a consensus target price of $106.80.

In related news, EVP Timothy J. Richmond sold 19,445 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $85.00, for a total value of $1,652,825.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Carlos Alban sold 53,325 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $100.00, for a total transaction of $5,332,500.00. Following the completion of the sale, the insider now owns 137,899 shares in the company, valued at $13,789,900. The disclosure for this sale can be found here. Insiders sold a total of 95,794 shares of company stock worth $9,057,485 over the last quarter. Insiders own 0.09% of the company’s stock.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, 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; 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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