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Amgen (AMGN) Stock Moves -0.46%: What You Should Know
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In the latest trading session, Amgen (AMGN - Free Report) closed at $250.87, marking a -0.46% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.69%. At the same time, the Dow lost 1.19%, and the tech-heavy Nasdaq gained 0.14%.
Prior to today's trading, shares of the world's largest biotech drugmaker had gained 10.13% over the past month. This has lagged the Medical sector's gain of 11.33% and outpaced the S&P 500's gain of 7.88% in that time.
Investors will be hoping for strength from Amgen as it approaches its next earnings release. The company is expected to report EPS of $4.19, up 13.24% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.1 billion, up 3.39% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.57 per share and revenue of $26.04 billion, which would represent changes of +2.75% and +0.23%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Amgen. These revisions help to show the ever-changing nature of near-term business trends. 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.3% higher. Amgen is currently a Zacks Rank #3 (Hold).
Investors should also note Amgen's current valuation metrics, including its Forward P/E ratio of 14.35. Its industry sports an average Forward P/E of 22.2, so we one might conclude that Amgen is trading at a discount comparatively.
Also, we should mention that AMGN has a PEG ratio of 1.51. 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 1.25 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 155, which puts it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Amgen (AMGN) Stock Moves -0.46%: What You Should Know
In the latest trading session, Amgen (AMGN - Free Report) closed at $250.87, marking a -0.46% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.69%. At the same time, the Dow lost 1.19%, and the tech-heavy Nasdaq gained 0.14%.
Prior to today's trading, shares of the world's largest biotech drugmaker had gained 10.13% over the past month. This has lagged the Medical sector's gain of 11.33% and outpaced the S&P 500's gain of 7.88% in that time.
Investors will be hoping for strength from Amgen as it approaches its next earnings release. The company is expected to report EPS of $4.19, up 13.24% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.1 billion, up 3.39% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.57 per share and revenue of $26.04 billion, which would represent changes of +2.75% and +0.23%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Amgen. These revisions help to show the ever-changing nature of near-term business trends. 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.3% higher. Amgen is currently a Zacks Rank #3 (Hold).
Investors should also note Amgen's current valuation metrics, including its Forward P/E ratio of 14.35. Its industry sports an average Forward P/E of 22.2, so we one might conclude that Amgen is trading at a discount comparatively.
Also, we should mention that AMGN has a PEG ratio of 1.51. 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 1.25 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 155, which puts it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.