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Amgen (AMGN) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest close session, Amgen (AMGN - Free Report) was down 1.78% at $341.66. The stock trailed the S&P 500, which registered a daily loss of 1.22%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.35%.
Coming into today, shares of the world's largest biotech drugmaker had gained 5.17% in the past month. In that same time, the Medical sector gained 4.11%, while the S&P 500 gained 1.56%.
Analysts and investors alike will be keeping a close eye on the performance of Amgen in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $5.55, reflecting a 7.81% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $9.44 billion, showing a 2.87% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $22.22 per share and revenue of $37.82 billion. These totals would mark changes of +1.74% and +2.92%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Amgen. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 shifted 0.02% upward. Amgen is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Amgen is currently exchanging hands at a Forward P/E ratio of 15.65. This signifies a discount in comparison to the average Forward P/E of 21.05 for its industry.
Meanwhile, AMGN's PEG ratio is currently 3.52. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.48.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 150, positioning it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
View the Zacks #1 Rank List
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Amgen (AMGN) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest close session, Amgen (AMGN - Free Report) was down 1.78% at $341.66. The stock trailed the S&P 500, which registered a daily loss of 1.22%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.35%.
Coming into today, shares of the world's largest biotech drugmaker had gained 5.17% in the past month. In that same time, the Medical sector gained 4.11%, while the S&P 500 gained 1.56%.
Analysts and investors alike will be keeping a close eye on the performance of Amgen in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $5.55, reflecting a 7.81% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $9.44 billion, showing a 2.87% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $22.22 per share and revenue of $37.82 billion. These totals would mark changes of +1.74% and +2.92%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Amgen. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 shifted 0.02% upward. Amgen is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Amgen is currently exchanging hands at a Forward P/E ratio of 15.65. This signifies a discount in comparison to the average Forward P/E of 21.05 for its industry.
Meanwhile, AMGN's PEG ratio is currently 3.52. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.48.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 150, positioning it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.