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The Market Wrap for September 11: A Short Yet Bumpy Week
In the end, stocks whipsawed through much of the shortened week.
Before the opening bell on Friday, AbbVie (ABBV ) reported a net loss for the fourth quarter, but beat analysts’ expectations for adjusted earnings.
ABBV’s Earnings in Brief
- ABBV posted a net loss of $810 million, or 51 cents per share, compared to net income of $1.128 billion, or 70 cents per share, a year ago.
- Excluding special items, EPS was 89 cents per share – above analysts’ view of 85 cents.
- Revenue came in at $5.45 billion, above analysts’ estimate of $5.37 billion.
- Looking ahead, the company expects to see annual EPS between $4.25 and $4.45. Analysts expect to see EPS of $4.37.
CEO Commentary
Richard Gonzalez, chairman and CEO, commented: “We returned to growth in 2014, a year ahead of schedule, and we expect to continue building on that momentum in 2015 with another year of strong performance.”
ABBV’s Dividend
ABBV will pay its next 49 cent dividend on February 13. The stock went ex-dividend on January 13.
Stock Performance
Shares of ABBV were mostly flat during premarket trading Friday. The stock is down 3.55% YTD.
The Bottom Line
AbbVie (ABBV ) is recommended at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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