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Amgen (AMGN) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Amgen (AMGN - Free Report) closed at $235.36, marking a +1.95% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, lost 0.28%.
Heading into today, shares of the world's largest biotech drugmaker had gained 3.72% over the past month, outpacing the Medical sector's loss of 4.1% and the S&P 500's gain of 0.22% in that time.
Investors will be hoping for strength from Amgen as it approaches its next earnings release. In that report, analysts expect Amgen to post earnings of $4.12 per share. This would mark year-over-year growth of 8.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.91 billion, up 4.13% from the year-ago period.
Any recent changes to analyst estimates for Amgen should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.18% lower. Amgen is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Amgen is currently trading at a Forward P/E ratio of 12.84. This represents a discount compared to its industry's average Forward P/E of 17.92.
It is also worth noting that AMGN currently has a PEG ratio of 1.59. 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 was holding an average PEG ratio of 1.07 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 37% 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Amgen (AMGN - Free Report) closed at $235.36, marking a +1.95% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, lost 0.28%.
Heading into today, shares of the world's largest biotech drugmaker had gained 3.72% over the past month, outpacing the Medical sector's loss of 4.1% and the S&P 500's gain of 0.22% in that time.
Investors will be hoping for strength from Amgen as it approaches its next earnings release. In that report, analysts expect Amgen to post earnings of $4.12 per share. This would mark year-over-year growth of 8.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.91 billion, up 4.13% from the year-ago period.
Any recent changes to analyst estimates for Amgen should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.18% lower. Amgen is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Amgen is currently trading at a Forward P/E ratio of 12.84. This represents a discount compared to its industry's average Forward P/E of 17.92.
It is also worth noting that AMGN currently has a PEG ratio of 1.59. 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 was holding an average PEG ratio of 1.07 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 37% 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.