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Amgen (AMGN) Gains But Lags Market: What You Should Know
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Amgen (AMGN - Free Report) closed the most recent trading day at $271.73, moving +0.3% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 1.1%.
Heading into today, shares of the world's largest biotech drugmaker had gained 1.8% over the past month, outpacing the Medical sector's loss of 0.96% and the S&P 500's loss of 0.01% in that time.
Wall Street will be looking for positivity from Amgen as it approaches its next earnings report date. On that day, Amgen is projected to report earnings of $4.02 per share, which would represent a year-over-year decline of 7.8%. Our most recent consensus estimate is calling for quarterly revenue of $6.74 billion, down 1.57% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Amgen. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Amgen is currently a Zacks Rank #3 (Hold).
In terms of valuation, Amgen is currently trading at a Forward P/E ratio of 14.7. Its industry sports an average Forward P/E of 20.42, so we one might conclude that Amgen is trading at a discount comparatively.
Investors should also note that AMGN has a PEG ratio of 1.92 right now. 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. AMGN's industry had an average PEG ratio of 1.6 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Amgen (AMGN) Gains But Lags Market: What You Should Know
Amgen (AMGN - Free Report) closed the most recent trading day at $271.73, moving +0.3% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 1.1%.
Heading into today, shares of the world's largest biotech drugmaker had gained 1.8% over the past month, outpacing the Medical sector's loss of 0.96% and the S&P 500's loss of 0.01% in that time.
Wall Street will be looking for positivity from Amgen as it approaches its next earnings report date. On that day, Amgen is projected to report earnings of $4.02 per share, which would represent a year-over-year decline of 7.8%. Our most recent consensus estimate is calling for quarterly revenue of $6.74 billion, down 1.57% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Amgen. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Amgen is currently a Zacks Rank #3 (Hold).
In terms of valuation, Amgen is currently trading at a Forward P/E ratio of 14.7. Its industry sports an average Forward P/E of 20.42, so we one might conclude that Amgen is trading at a discount comparatively.
Investors should also note that AMGN has a PEG ratio of 1.92 right now. 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. AMGN's industry had an average PEG ratio of 1.6 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.