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Amgen (AMGN) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Amgen (AMGN - Free Report) closed at $227.11, marking a -1.11% move from the previous day. This move lagged the S&P 500's daily loss of 0.77%. At the same time, the Dow lost 0.65%, and the tech-heavy Nasdaq lost 2.23%.
Coming into today, shares of the world's largest biotech drugmaker had gained 5.61% in the past month. In that same time, the Medical sector gained 0.41%, while the S&P 500 gained 4.66%.
Investors will be hoping for strength from Amgen as it approaches its next earnings release. On that day, Amgen is projected to report earnings of $4.46 per share, which would represent a year-over-year decline of 4.09%. Meanwhile, our latest consensus estimate is calling for revenue of $6.68 billion, up 1.32% from the prior-year quarter.
AMGN's full-year Zacks Consensus Estimates are calling for earnings of $18.12 per share and revenue of $27.73 billion. These results would represent year-over-year changes of +2.43% and +5.35%, respectively.
Investors might also notice recent changes to analyst estimates for Amgen. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 12.68 right now. For comparison, its industry has an average Forward P/E of 18.94, which means Amgen is trading at a discount to the group.
Meanwhile, AMGN's PEG ratio is currently 1.81. 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 1.86 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 111, which puts it in the top 45% 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Amgen (AMGN - Free Report) closed at $227.11, marking a -1.11% move from the previous day. This move lagged the S&P 500's daily loss of 0.77%. At the same time, the Dow lost 0.65%, and the tech-heavy Nasdaq lost 2.23%.
Coming into today, shares of the world's largest biotech drugmaker had gained 5.61% in the past month. In that same time, the Medical sector gained 0.41%, while the S&P 500 gained 4.66%.
Investors will be hoping for strength from Amgen as it approaches its next earnings release. On that day, Amgen is projected to report earnings of $4.46 per share, which would represent a year-over-year decline of 4.09%. Meanwhile, our latest consensus estimate is calling for revenue of $6.68 billion, up 1.32% from the prior-year quarter.
AMGN's full-year Zacks Consensus Estimates are calling for earnings of $18.12 per share and revenue of $27.73 billion. These results would represent year-over-year changes of +2.43% and +5.35%, respectively.
Investors might also notice recent changes to analyst estimates for Amgen. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 12.68 right now. For comparison, its industry has an average Forward P/E of 18.94, which means Amgen is trading at a discount to the group.
Meanwhile, AMGN's PEG ratio is currently 1.81. 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 1.86 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 111, which puts it in the top 45% 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.