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Amgen (AMGN) Ascends While Market Falls: Some Facts to Note
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Amgen (AMGN - Free Report) closed the most recent trading day at $280.82, moving +1.68% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 0.31%. On the other hand, the Dow registered a loss of 0.41%, and the technology-centric Nasdaq decreased by 0.27%.
Heading into today, shares of the world's largest biotech drugmaker had lost 4.5% over the past month, lagging the Medical sector's loss of 0.57% and the S&P 500's gain of 3.05% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Amgen in its upcoming earnings disclosure. The company's upcoming EPS is projected at $3.84, signifying a 3.52% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $7.45 billion, indicating a 21.98% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $19.48 per share and revenue of $32.91 billion. These totals would mark changes of +4.45% and +16.75%, respectively, from last year.
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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.16% decrease. Amgen is currently a Zacks Rank #3 (Hold).
In terms of valuation, Amgen is presently being traded at a Forward P/E ratio of 14.18. This indicates a discount in contrast to its industry's Forward P/E of 24.18.
One should further note that AMGN currently holds a PEG ratio of 2.59. 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. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.72.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 83, this industry ranks in the top 33% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Amgen (AMGN) Ascends While Market Falls: Some Facts to Note
Amgen (AMGN - Free Report) closed the most recent trading day at $280.82, moving +1.68% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 0.31%. On the other hand, the Dow registered a loss of 0.41%, and the technology-centric Nasdaq decreased by 0.27%.
Heading into today, shares of the world's largest biotech drugmaker had lost 4.5% over the past month, lagging the Medical sector's loss of 0.57% and the S&P 500's gain of 3.05% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Amgen in its upcoming earnings disclosure. The company's upcoming EPS is projected at $3.84, signifying a 3.52% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $7.45 billion, indicating a 21.98% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $19.48 per share and revenue of $32.91 billion. These totals would mark changes of +4.45% and +16.75%, respectively, from last year.
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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.16% decrease. Amgen is currently a Zacks Rank #3 (Hold).
In terms of valuation, Amgen is presently being traded at a Forward P/E ratio of 14.18. This indicates a discount in contrast to its industry's Forward P/E of 24.18.
One should further note that AMGN currently holds a PEG ratio of 2.59. 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. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.72.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 83, this industry ranks in the top 33% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.