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Amgen (AMGN) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Amgen (AMGN - Free Report) closed at $355.25, marking a -1.44% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.38%. On the other hand, the Dow registered a gain of 0.02%, and the technology-centric Nasdaq increased by 0.9%.
Coming into today, shares of the world's largest biotech drugmaker had gained 2.83% in the past month. In that same time, the Medical sector gained 4.34%, while the S&P 500 gained 1.27%.
The investment community will be closely monitoring the performance of Amgen in its forthcoming earnings report. The company's upcoming EPS is projected at $5.55, signifying a 7.81% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $9.45 billion, reflecting a 2.9% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $22.19 per share and revenue of $37.74 billion. These totals would mark changes of +1.6% and +2.69%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Amgen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.32% lower. Amgen presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Amgen is currently exchanging hands at a Forward P/E ratio of 16.25. This denotes a discount relative to the industry average Forward P/E of 20.52.
One should further note that AMGN currently holds a PEG ratio of 3.58. 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 1.58.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 163, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Amgen (AMGN) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Amgen (AMGN - Free Report) closed at $355.25, marking a -1.44% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.38%. On the other hand, the Dow registered a gain of 0.02%, and the technology-centric Nasdaq increased by 0.9%.
Coming into today, shares of the world's largest biotech drugmaker had gained 2.83% in the past month. In that same time, the Medical sector gained 4.34%, while the S&P 500 gained 1.27%.
The investment community will be closely monitoring the performance of Amgen in its forthcoming earnings report. The company's upcoming EPS is projected at $5.55, signifying a 7.81% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $9.45 billion, reflecting a 2.9% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $22.19 per share and revenue of $37.74 billion. These totals would mark changes of +1.6% and +2.69%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Amgen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.32% lower. Amgen presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Amgen is currently exchanging hands at a Forward P/E ratio of 16.25. This denotes a discount relative to the industry average Forward P/E of 20.52.
One should further note that AMGN currently holds a PEG ratio of 3.58. 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 1.58.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 163, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.