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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 $234.01, moving +0.07% from the previous trading session. This change lagged the S&P 500's 0.29% gain on the day. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq added 0.44%.
Heading into today, shares of the world's largest biotech drugmaker had gained 5.66% over the past month, outpacing the Medical sector's gain of 5.29% and the S&P 500's gain of 1.51% in that time.
Wall Street will be looking for positivity from AMGN as it approaches its next earnings report date. On that day, AMGN is projected to report earnings of $3.43 per share, which would represent year-over-year growth of 0.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.98 billion, down 3.95% from the year-ago period.
AMGN's full-year Zacks Consensus Estimates are calling for earnings of $14.56 per share and revenue of $23.13 billion. These results would represent year-over-year changes of +1.11% and -2.61%, respectively.
It is also important to note the recent changes to analyst estimates for AMGN. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 1.45% higher. AMGN is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, AMGN is currently trading at a Forward P/E ratio of 16.07. Its industry sports an average Forward P/E of 26.23, so we one might conclude that AMGN is trading at a discount comparatively.
It is also worth noting that AMGN currently has a PEG ratio of 2.23. 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. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.81 based on yesterday's closing prices.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 $234.01, moving +0.07% from the previous trading session. This change lagged the S&P 500's 0.29% gain on the day. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq added 0.44%.
Heading into today, shares of the world's largest biotech drugmaker had gained 5.66% over the past month, outpacing the Medical sector's gain of 5.29% and the S&P 500's gain of 1.51% in that time.
Wall Street will be looking for positivity from AMGN as it approaches its next earnings report date. On that day, AMGN is projected to report earnings of $3.43 per share, which would represent year-over-year growth of 0.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.98 billion, down 3.95% from the year-ago period.
AMGN's full-year Zacks Consensus Estimates are calling for earnings of $14.56 per share and revenue of $23.13 billion. These results would represent year-over-year changes of +1.11% and -2.61%, respectively.
It is also important to note the recent changes to analyst estimates for AMGN. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 1.45% higher. AMGN is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, AMGN is currently trading at a Forward P/E ratio of 16.07. Its industry sports an average Forward P/E of 26.23, so we one might conclude that AMGN is trading at a discount comparatively.
It is also worth noting that AMGN currently has a PEG ratio of 2.23. 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. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.81 based on yesterday's closing prices.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.