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Amgen (AMGN) Stock Moves -0.13%: What You Should Know
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Amgen (AMGN - Free Report) closed the most recent trading day at $251.34, moving -0.13% from the previous trading session. This move was narrower than the S&P 500's daily loss of 2.37%. Meanwhile, the Dow lost 1.35%, and the Nasdaq, a tech-heavy index, lost 0.21%.
Coming into today, shares of the world's largest biotech drugmaker had gained 10.54% in the past month. In that same time, the Medical sector lost 3.73%, while the S&P 500 lost 6.51%.
Wall Street will be looking for positivity from Amgen as it approaches its next earnings report date. This is expected to be November 3, 2022. The company is expected to report EPS of $4.52, down 3.21% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.59 billion, down 1.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.46 per share and revenue of $26.14 billion, which would represent changes of +2.11% and +0.62%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Amgen. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.02% higher. Amgen is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Amgen is holding a Forward P/E ratio of 14.42. This represents a discount compared to its industry's average Forward P/E of 20.47.
Also, we should mention that AMGN has a PEG ratio of 2.03. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.4 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 62, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Amgen (AMGN) Stock Moves -0.13%: What You Should Know
Amgen (AMGN - Free Report) closed the most recent trading day at $251.34, moving -0.13% from the previous trading session. This move was narrower than the S&P 500's daily loss of 2.37%. Meanwhile, the Dow lost 1.35%, and the Nasdaq, a tech-heavy index, lost 0.21%.
Coming into today, shares of the world's largest biotech drugmaker had gained 10.54% in the past month. In that same time, the Medical sector lost 3.73%, while the S&P 500 lost 6.51%.
Wall Street will be looking for positivity from Amgen as it approaches its next earnings report date. This is expected to be November 3, 2022. The company is expected to report EPS of $4.52, down 3.21% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.59 billion, down 1.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.46 per share and revenue of $26.14 billion, which would represent changes of +2.11% and +0.62%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Amgen. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.02% higher. Amgen is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Amgen is holding a Forward P/E ratio of 14.42. This represents a discount compared to its industry's average Forward P/E of 20.47.
Also, we should mention that AMGN has a PEG ratio of 2.03. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.4 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 62, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.