We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Amgen (AMGN) Stock Falls Amid Market Uptick: What Investors Need to Know
Read MoreHide Full Article
Amgen (AMGN - Free Report) closed at $361.13 in the latest trading session, marking a -1.4% move from the prior day. This change lagged the S&P 500's daily gain of 0.25%. Meanwhile, the Dow experienced a rise of 0.1%, and the technology-dominated Nasdaq saw an increase of 0.47%.
The world's largest biotech drugmaker's shares have seen a decrease of 0.8% over the last month, surpassing the Medical sector's loss of 4.79% and the S&P 500's loss of 1.88%.
The investment community will be paying close attention to the earnings performance of Amgen in its upcoming release. It is anticipated that the company will report an EPS of $4.74, marking a 3.27% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $8.51 billion, up 4.42% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $22.22 per share and revenue of $37.86 billion. These totals would mark changes of +1.74% and +3.02%, respectively, from last 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.15% lower. Amgen is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Amgen is currently being traded at a Forward P/E ratio of 16.48. This represents a discount compared to its industry average Forward P/E of 18.95.
Also, we should mention that AMGN has a PEG ratio of 3.65. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.54 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 140, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Amgen (AMGN) Stock Falls Amid Market Uptick: What Investors Need to Know
Amgen (AMGN - Free Report) closed at $361.13 in the latest trading session, marking a -1.4% move from the prior day. This change lagged the S&P 500's daily gain of 0.25%. Meanwhile, the Dow experienced a rise of 0.1%, and the technology-dominated Nasdaq saw an increase of 0.47%.
The world's largest biotech drugmaker's shares have seen a decrease of 0.8% over the last month, surpassing the Medical sector's loss of 4.79% and the S&P 500's loss of 1.88%.
The investment community will be paying close attention to the earnings performance of Amgen in its upcoming release. It is anticipated that the company will report an EPS of $4.74, marking a 3.27% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $8.51 billion, up 4.42% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $22.22 per share and revenue of $37.86 billion. These totals would mark changes of +1.74% and +3.02%, respectively, from last 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.15% lower. Amgen is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Amgen is currently being traded at a Forward P/E ratio of 16.48. This represents a discount compared to its industry average Forward P/E of 18.95.
Also, we should mention that AMGN has a PEG ratio of 3.65. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.54 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 140, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.