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AbbVie (NYSE:ABBV) Provides Earnings Guidance for Fiscal Year 22

AbbVie (NYSE:ABBV) Provides Earnings Guidance for Fiscal Year 22

On Friday, AbbVie (NYSE: ABBV) issued an updated version of its earnings guidance for the fiscal year 2022. In contrast to the general public’s expectations, which are set at $13.85, the company has projected that its earnings per share for the following fiscal year will fall between $13.70 and $13.74. As a result, the new range for AbbVie’s earnings per share projection for the fiscal year 2022 is $13.70-$13.74. This represents a revision from the previous range of $13.70-$13.70.
On Friday, October 28 October 28, the most recent quarterly earnings report for AbbVie (NYSE: ABBV) was made available to the public. The company announced quarterly earnings of $3.66 per share, which is $0.10 higher than the average estimated $3.56 per share distributed among market professionals. AbbVie successfully achieved a return on equity of 155.88% and a net margin of 23.19% in their business. The company’s revenue during the period in question came in at $14.81 billion, which is lower than the $14.95 billion analysts in the relevant field had anticipated it would be. The company generated $3.33 per share during the same period in the previous year’s operations. AbbVie’s revenue rose by 3.3% when measured against the company’s performance during the same quarter in the prior year. During the current fiscal year, AbbVie is expected to generate earnings of 13.98 cents per share, as stated by the projections of market research analysts.
During trading on Friday, the price of ABBV increased by $3.06, bringing it up to $166.55. The average daily volume of activity for the company’s shares was 4,498,141 dollars, but it reached 5,042,686 dollars today, which is a significant increase over that level. AbbVie hit a low of $128.26 during the past year, while the company’s stock reached a high of $175.91 during the same period. The moving average price of the company over the previous 200 days is $149.17, and the moving average price over the previous 50 days is $158.31. The debt-to-equity ratio is 3.77, the quick ratio is 0.83, and the current ratio is 0.93. Each of these ratios is significantly higher than the previous one. In addition to having a beta value of 0.69, the company has a price-to-earnings-to-growth ratio of 3.54. It is currently valued at $294.54 billion on the market.
Within the most recent period, several equity analysts have published reports on the company they are monitoring. Barclays decreased their target price on AbbVie from $160.00 to $155.00 and gave the company an equal weight rating in a research report published on Monday, October 31. StockNews.com debuted its coverage of AbbVie with the publication of a research study on Wednesday, October 12; this article was the website’s first of its kind. They suggested making an emotional investment in the company by purchasing its stock. In a research report released on Friday, September 30, by SVB Leerink, the company gave a rating of underperform to shares of AbbVie. In addition, the company lowered its price target for the stock, dropping it from $140.00 to $135.00. Atlantic Securities kept their neutral rating on the stock and lowered their target price on AbbVie shares from $162.00 to $157,000.00 in a research note published on October 31. In a research note published on Tuesday, December 6, Morgan Stanley raised their price objective on AbbVie stock from $178.00 to $182.00 and rated it as overweight. This was the last but not the least news related to the company’s stock. The company’s stock currently has the following ratings: sell from one, hold from seven, buy from six, and strong buy from one, according to analysts who conduct equity research. The information provided by Bloomberg indicates that the current consensus target price for the company is set at $159.89, and the typical recommendation for the stock is to hold onto it.
Furthermore, the company has announced that it will distribute a quarterly dividend on February 15 and February 15 after previously declaring the dividend. As a result, shareholders whose information was recorded as January 13 and January 13 will be eligible to receive a dividend payment of $1.48 per share. This equates to an annual dividend payment of 5.92 dollars and an investment yield of 3.55 percent. This represents an increase compared to the prior quarterly dividend payment that AbbVie made, which was $1.41. The date designated as the “ex-dividend date” for this dividend is Thursday, January 12. Now, 75.30% of AbbVie’s revenue is being distributed to shareholders.
On top of that, Executive Vice President Timothy J. Richmond sold 42,370 shares of the company’s stock on Monday, December 12. This information was included with the other announcements that were related to AbbVie. The purchase of each share occurred at an average price of $163.44 during the sale, which resulted in a total value of the transaction equal to $6,924,952.80. Because of the transaction, the executive vice president now owns 13,837 shares of the company’s stock. Based on the stock’s current price, this gives the executive vice president a net worth of approximately $2,261,519.28. Should you follow this link, you will be taken to the SEC filing in which the transaction was discussed in greater detail. Only 0.08% of the total company stock is held by current and former employees of the company.

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