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Amgen (AMGN) Registers a Bigger Fall Than the Market: Important Facts to Note
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Amgen (AMGN - Free Report) closed the most recent trading day at $337.50, moving -2.05% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 1.62%. Meanwhile, the Dow experienced a drop of 1.87%, and the technology-dominated Nasdaq saw a decrease of 1.98%.
Coming into today, shares of the world's largest biotech drugmaker had gained 2.46% in the past month. In that same time, the Medical sector gained 5.04%, while the S&P 500 lost 0.03%.
Analysts and investors alike will be keeping a close eye on the performance of Amgen in its upcoming earnings disclosure. In that report, analysts expect Amgen to post earnings of $5.55 per share. This would mark a year-over-year decline of 7.81%. Meanwhile, the latest consensus estimate predicts the revenue to be $9.44 billion, indicating a 2.87% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $22.26 per share and revenue of $37.86 billion, indicating changes of +1.92% and +3.02%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Amgen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% higher. 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 15.48. This expresses a discount compared to the average Forward P/E of 21.35 of its industry.
Meanwhile, AMGN's PEG ratio is currently 3.48. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.51.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Amgen (AMGN) Registers a Bigger Fall Than the Market: Important Facts to Note
Amgen (AMGN - Free Report) closed the most recent trading day at $337.50, moving -2.05% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 1.62%. Meanwhile, the Dow experienced a drop of 1.87%, and the technology-dominated Nasdaq saw a decrease of 1.98%.
Coming into today, shares of the world's largest biotech drugmaker had gained 2.46% in the past month. In that same time, the Medical sector gained 5.04%, while the S&P 500 lost 0.03%.
Analysts and investors alike will be keeping a close eye on the performance of Amgen in its upcoming earnings disclosure. In that report, analysts expect Amgen to post earnings of $5.55 per share. This would mark a year-over-year decline of 7.81%. Meanwhile, the latest consensus estimate predicts the revenue to be $9.44 billion, indicating a 2.87% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $22.26 per share and revenue of $37.86 billion, indicating changes of +1.92% and +3.02%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Amgen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% higher. 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 15.48. This expresses a discount compared to the average Forward P/E of 21.35 of its industry.
Meanwhile, AMGN's PEG ratio is currently 3.48. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.51.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.