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Amgen (AMGN) Stock Declines While Market Improves: Some Information for Investors
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Amgen (AMGN - Free Report) closed the most recent trading day at $320.71, moving -2.12% from the previous trading session. This change lagged the S&P 500's 0.64% gain on the day. Elsewhere, the Dow gained 1.23%, while the tech-heavy Nasdaq added 0.69%.
Prior to today's trading, shares of the world's largest biotech drugmaker had lost 0.68% lagged the Medical sector's gain of 0.63% and the S&P 500's gain of 0.55%.
The upcoming earnings release of Amgen will be of great interest to investors. The company is forecasted to report an EPS of $4.74, showcasing a 10.73% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $9.47 billion, up 4.2% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $21.28 per share and revenue of $36.36 billion. These totals would mark changes of +7.26% and 0%, respectively, from last year.
Any recent changes to analyst estimates for Amgen should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection has moved 0.15% higher. Currently, Amgen is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Amgen is presently trading at a Forward P/E ratio of 15.1. This indicates a discount in contrast to its industry's Forward P/E of 18.54.
We can also see that AMGN currently has a PEG ratio of 2.98. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 1.44.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 101, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Amgen (AMGN) Stock Declines While Market Improves: Some Information for Investors
Amgen (AMGN - Free Report) closed the most recent trading day at $320.71, moving -2.12% from the previous trading session. This change lagged the S&P 500's 0.64% gain on the day. Elsewhere, the Dow gained 1.23%, while the tech-heavy Nasdaq added 0.69%.
Prior to today's trading, shares of the world's largest biotech drugmaker had lost 0.68% lagged the Medical sector's gain of 0.63% and the S&P 500's gain of 0.55%.
The upcoming earnings release of Amgen will be of great interest to investors. The company is forecasted to report an EPS of $4.74, showcasing a 10.73% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $9.47 billion, up 4.2% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $21.28 per share and revenue of $36.36 billion. These totals would mark changes of +7.26% and 0%, respectively, from last year.
Any recent changes to analyst estimates for Amgen should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection has moved 0.15% higher. Currently, Amgen is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Amgen is presently trading at a Forward P/E ratio of 15.1. This indicates a discount in contrast to its industry's Forward P/E of 18.54.
We can also see that AMGN currently has a PEG ratio of 2.98. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 1.44.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 101, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.