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) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
Amgen (AMGN - Free Report) closed at $251.44 in the latest trading session, marking a +0.78% move from the prior day. This move lagged the S&P 500's daily gain of 1.33%. Elsewhere, the Dow gained 1.14%, while the tech-heavy Nasdaq added 2.94%.
Coming into today, shares of the world's largest biotech drugmaker had gained 6.22% in the past month. In that same time, the Medical sector gained 7.14%, while the S&P 500 gained 6.11%.
Wall Street will be looking for positivity from Amgen as it approaches its next earnings report date. This is expected to be April 27, 2023. In that report, analysts expect Amgen to post earnings of $3.93 per share. This would mark a year-over-year decline of 7.53%. Meanwhile, our latest consensus estimate is calling for revenue of $6.21 billion, down 0.42% from the prior-year quarter.
AMGN's full-year Zacks Consensus Estimates are calling for earnings of $17.73 per share and revenue of $28.1 billion. These results would represent year-over-year changes of +0.23% and +6.73%, respectively.
Investors might also notice recent changes to analyst estimates for Amgen. Recent revisions tend to reflect the latest 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% higher. Amgen is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Amgen has a Forward P/E ratio of 14.07 right now. This valuation marks a discount compared to its industry's average Forward P/E of 21.37.
It is also worth noting that AMGN currently has a PEG ratio of 2.01. 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 2.01 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 73, which puts it in the top 29% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Amgen (AMGN) Gains But Lags Market: What You Should Know
Amgen (AMGN - Free Report) closed at $251.44 in the latest trading session, marking a +0.78% move from the prior day. This move lagged the S&P 500's daily gain of 1.33%. Elsewhere, the Dow gained 1.14%, while the tech-heavy Nasdaq added 2.94%.
Coming into today, shares of the world's largest biotech drugmaker had gained 6.22% in the past month. In that same time, the Medical sector gained 7.14%, while the S&P 500 gained 6.11%.
Wall Street will be looking for positivity from Amgen as it approaches its next earnings report date. This is expected to be April 27, 2023. In that report, analysts expect Amgen to post earnings of $3.93 per share. This would mark a year-over-year decline of 7.53%. Meanwhile, our latest consensus estimate is calling for revenue of $6.21 billion, down 0.42% from the prior-year quarter.
AMGN's full-year Zacks Consensus Estimates are calling for earnings of $17.73 per share and revenue of $28.1 billion. These results would represent year-over-year changes of +0.23% and +6.73%, respectively.
Investors might also notice recent changes to analyst estimates for Amgen. Recent revisions tend to reflect the latest 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% higher. Amgen is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Amgen has a Forward P/E ratio of 14.07 right now. This valuation marks a discount compared to its industry's average Forward P/E of 21.37.
It is also worth noting that AMGN currently has a PEG ratio of 2.01. 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 2.01 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 73, which puts it in the top 29% 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.