You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Amgen (AMGN) Stock Moves -1.34%: What You Should Know
In the latest trading session, Amgen (AMGN - Free Report) closed at $229.83, marking a -1.34% move from the previous day. This change was narrower than the S&P 500's 1.65% loss on the day. Elsewhere, the Dow lost 1.63%, while the tech-heavy Nasdaq lost 6.65%.
Heading into today, shares of the world's largest biotech drugmaker had lost 2.22% over the past month, lagging the Medical sector's loss of 1.27% and the S&P 500's gain of 0.3% 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 $3.92 per share, which would represent a year-over-year decline of 7.76%. Our most recent consensus estimate is calling for quarterly revenue of $6.2 billion, down 0.56% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.72 per share and revenue of $28.1 billion. These totals would mark changes of +0.17% and +6.74%, respectively, from last year.
Any recent changes to analyst estimates for Amgen should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.1% lower. Amgen currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Amgen currently has a Forward P/E ratio of 13.14. This represents a discount compared to its industry's average Forward P/E of 18.53.
It is also worth noting that AMGN currently has a PEG ratio of 1.88. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.77 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 95, which puts it in the top 38% 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.
To follow AMGN in the coming trading sessions, be sure to utilize Zacks.com.