We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
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 individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Amgen (AMGN) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
Amgen (AMGN - Free Report) closed at $253.35 in the latest trading session, marking a -0.01% move from the prior day. This change lagged the S&P 500's daily gain of 0.36%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 1.91%.
Coming into today, shares of the world's largest biotech drugmaker had gained 10.92% in the past month. In that same time, the Medical sector gained 1.64%, while the S&P 500 gained 1.24%.
Investors will be hoping for strength from Amgen as it approaches its next earnings release, which is expected to be April 27, 2023. The company is expected to report EPS of $3.93, down 7.53% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.21 billion, down 0.42% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.73 per share and revenue of $28.1 billion, which would represent changes of +0.23% and +6.73%, respectively, from the prior year.
Investors might also notice 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.
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.
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 0.01% higher. Amgen is currently a Zacks Rank #3 (Hold).
In terms of valuation, Amgen is currently trading at a Forward P/E ratio of 14.29. For comparison, its industry has an average Forward P/E of 20.45, which means Amgen is trading at a discount to the group.
Also, we should mention that AMGN has a PEG ratio of 2.04. 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 1.94 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 84, which puts it in the top 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Amgen (AMGN) Stock Sinks As Market Gains: What You Should Know
Amgen (AMGN - Free Report) closed at $253.35 in the latest trading session, marking a -0.01% move from the prior day. This change lagged the S&P 500's daily gain of 0.36%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 1.91%.
Coming into today, shares of the world's largest biotech drugmaker had gained 10.92% in the past month. In that same time, the Medical sector gained 1.64%, while the S&P 500 gained 1.24%.
Investors will be hoping for strength from Amgen as it approaches its next earnings release, which is expected to be April 27, 2023. The company is expected to report EPS of $3.93, down 7.53% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.21 billion, down 0.42% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.73 per share and revenue of $28.1 billion, which would represent changes of +0.23% and +6.73%, respectively, from the prior year.
Investors might also notice 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.
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.
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 0.01% higher. Amgen is currently a Zacks Rank #3 (Hold).
In terms of valuation, Amgen is currently trading at a Forward P/E ratio of 14.29. For comparison, its industry has an average Forward P/E of 20.45, which means Amgen is trading at a discount to the group.
Also, we should mention that AMGN has a PEG ratio of 2.04. 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 1.94 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 84, which puts it in the top 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.