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Amgen (AMGN) Stock Moves -0.15%: What You Should Know
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Amgen (AMGN - Free Report) ended the recent trading session at $288.02, demonstrating a -0.15% swing from the preceding day's closing price. This change was narrower than the S&P 500's 0.28% loss on the day. At the same time, the Dow lost 0.06%, and the tech-heavy Nasdaq lost 0.56%.
Coming into today, shares of the world's largest biotech drugmaker had gained 6.98% in the past month. In that same time, the Medical sector gained 6.56%, while the S&P 500 gained 5.24%.
The investment community will be paying close attention to the earnings performance of Amgen in its upcoming release. The company is forecasted to report an EPS of $4.69, showcasing a 14.67% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $8.13 billion, indicating a 18.95% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $18.63 per share and a revenue of $28.13 billion, representing changes of +5.31% and +6.86%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.06% increase. Right now, Amgen possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Amgen is currently trading at a Forward P/E ratio of 15.48. For comparison, its industry has an average Forward P/E of 17.87, which means Amgen is trading at a discount to the group.
It's also important to note that AMGN currently trades at a PEG ratio of 2.76. 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. As the market closed yesterday, the Medical - Biomedical and Genetics industry was having an average PEG ratio of 2.02.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Stock Moves -0.15%: What You Should Know
Amgen (AMGN - Free Report) ended the recent trading session at $288.02, demonstrating a -0.15% swing from the preceding day's closing price. This change was narrower than the S&P 500's 0.28% loss on the day. At the same time, the Dow lost 0.06%, and the tech-heavy Nasdaq lost 0.56%.
Coming into today, shares of the world's largest biotech drugmaker had gained 6.98% in the past month. In that same time, the Medical sector gained 6.56%, while the S&P 500 gained 5.24%.
The investment community will be paying close attention to the earnings performance of Amgen in its upcoming release. The company is forecasted to report an EPS of $4.69, showcasing a 14.67% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $8.13 billion, indicating a 18.95% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $18.63 per share and a revenue of $28.13 billion, representing changes of +5.31% and +6.86%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.06% increase. Right now, Amgen possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Amgen is currently trading at a Forward P/E ratio of 15.48. For comparison, its industry has an average Forward P/E of 17.87, which means Amgen is trading at a discount to the group.
It's also important to note that AMGN currently trades at a PEG ratio of 2.76. 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. As the market closed yesterday, the Medical - Biomedical and Genetics industry was having an average PEG ratio of 2.02.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.