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Amgen (AMGN - Free Report) closed the latest trading day at $285.04, indicating a +0.51% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.63%. Meanwhile, the Dow lost 0.51%, and the Nasdaq, a tech-heavy index, lost 0.63%.
Shares of the world's largest biotech drugmaker witnessed a gain of 10.25% over the previous month, beating the performance of the Medical sector with its loss of 4.14% and the S&P 500's loss of 2.35%.
The investment community will be paying close attention to the earnings performance of Amgen in its upcoming release. The company is slated to reveal its earnings on October 31, 2023. In that report, analysts expect Amgen to post earnings of $4.68 per share. This would mark a year-over-year decline of 0.43%. In the meantime, our current consensus estimate forecasts the revenue to be $6.94 billion, indicating a 4.27% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $18.35 per share and revenue of $27.26 billion, indicating changes of +3.73% and +3.55%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Amgen. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% lower. Amgen is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Amgen is at present trading with a Forward P/E ratio of 15.45. This indicates a discount in contrast to its industry's Forward P/E of 17.42.
Meanwhile, AMGN's PEG ratio is currently 3.57. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 2.12 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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(AMGN) Rises As Market Takes a Dip: Key Facts
Amgen (AMGN - Free Report) closed the latest trading day at $285.04, indicating a +0.51% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.63%. Meanwhile, the Dow lost 0.51%, and the Nasdaq, a tech-heavy index, lost 0.63%.
Shares of the world's largest biotech drugmaker witnessed a gain of 10.25% over the previous month, beating the performance of the Medical sector with its loss of 4.14% and the S&P 500's loss of 2.35%.
The investment community will be paying close attention to the earnings performance of Amgen in its upcoming release. The company is slated to reveal its earnings on October 31, 2023. In that report, analysts expect Amgen to post earnings of $4.68 per share. This would mark a year-over-year decline of 0.43%. In the meantime, our current consensus estimate forecasts the revenue to be $6.94 billion, indicating a 4.27% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $18.35 per share and revenue of $27.26 billion, indicating changes of +3.73% and +3.55%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Amgen. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% lower. Amgen is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Amgen is at present trading with a Forward P/E ratio of 15.45. This indicates a discount in contrast to its industry's Forward P/E of 17.42.
Meanwhile, AMGN's PEG ratio is currently 3.57. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 2.12 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.