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Amgen (AMGN) Dips More Than Broader Market: What You Should Know
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In the latest close session, Amgen (AMGN - Free Report) was down 2.25% at $382.47. This change lagged the S&P 500's 0.59% loss on the day. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw a decrease of 0.65%.
The world's largest biotech drugmaker's stock has dropped by 5.99% in the past month, falling short of the Medical sector's loss of 0.36% and the S&P 500's loss of 1.37%.
The investment community will be closely monitoring the performance of Amgen in its forthcoming earnings report. It is anticipated that the company will report an EPS of $5.69, marking a 0.89% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $9.91 billion, indicating a 3.68% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $22.47 per share and a revenue of $38.81 billion, demonstrating changes of +2.88% and +5.6%, respectively, from the preceding year.
Any recent changes to analyst estimates for Amgen should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.84% upward. Amgen currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Amgen currently has a Forward P/E ratio of 17.42. This denotes a discount relative to the industry average Forward P/E of 20.54.
Meanwhile, AMGN's PEG ratio is currently 2.88. 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. AMGN's industry had an average PEG ratio of 1.9 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 32% 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) Dips More Than Broader Market: What You Should Know
In the latest close session, Amgen (AMGN - Free Report) was down 2.25% at $382.47. This change lagged the S&P 500's 0.59% loss on the day. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw a decrease of 0.65%.
The world's largest biotech drugmaker's stock has dropped by 5.99% in the past month, falling short of the Medical sector's loss of 0.36% and the S&P 500's loss of 1.37%.
The investment community will be closely monitoring the performance of Amgen in its forthcoming earnings report. It is anticipated that the company will report an EPS of $5.69, marking a 0.89% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $9.91 billion, indicating a 3.68% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $22.47 per share and a revenue of $38.81 billion, demonstrating changes of +2.88% and +5.6%, respectively, from the preceding year.
Any recent changes to analyst estimates for Amgen should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.84% upward. Amgen currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Amgen currently has a Forward P/E ratio of 17.42. This denotes a discount relative to the industry average Forward P/E of 20.54.
Meanwhile, AMGN's PEG ratio is currently 2.88. 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. AMGN's industry had an average PEG ratio of 1.9 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 32% 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.