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Amgen (AMGN) Gains But Lags Market: What You Should Know
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In the latest trading session, Amgen (AMGN - Free Report) closed at $227.84, marking a +0.18% move from the previous day. This change lagged the S&P 500's 0.39% gain on the day.
Heading into today, shares of the world's largest biotech drugmaker had lost 0.97% over the past month, lagging the Medical sector's gain of 0.04% and the S&P 500's gain of 3.16% in that time.
Wall Street will be looking for positivity from Amgen as it approaches its next earnings report date. This is expected to be August 3, 2023. 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%. Our most recent consensus estimate is calling for quarterly revenue of $6.67 billion, up 1.18% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $18 per share and revenue of $27.46 billion. These totals would mark changes of +1.75% and +4.33%, respectively, from last year.
Any recent changes to analyst estimates for Amgen should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.63% lower. Amgen is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Amgen's current valuation metrics, including its Forward P/E ratio of 12.63. This valuation marks a discount compared to its industry's average Forward P/E of 19.07.
We can also see that AMGN currently has a PEG ratio of 1.8. 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. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.87 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Amgen (AMGN) Gains But Lags Market: What You Should Know
In the latest trading session, Amgen (AMGN - Free Report) closed at $227.84, marking a +0.18% move from the previous day. This change lagged the S&P 500's 0.39% gain on the day.
Heading into today, shares of the world's largest biotech drugmaker had lost 0.97% over the past month, lagging the Medical sector's gain of 0.04% and the S&P 500's gain of 3.16% in that time.
Wall Street will be looking for positivity from Amgen as it approaches its next earnings report date. This is expected to be August 3, 2023. 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%. Our most recent consensus estimate is calling for quarterly revenue of $6.67 billion, up 1.18% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $18 per share and revenue of $27.46 billion. These totals would mark changes of +1.75% and +4.33%, respectively, from last year.
Any recent changes to analyst estimates for Amgen should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.63% lower. Amgen is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Amgen's current valuation metrics, including its Forward P/E ratio of 12.63. This valuation marks a discount compared to its industry's average Forward P/E of 19.07.
We can also see that AMGN currently has a PEG ratio of 1.8. 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. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.87 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.