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Amgen (AMGN) Surpasses Market Returns: Some Facts Worth Knowing
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Amgen (AMGN - Free Report) closed the most recent trading day at $385.65, moving +1.55% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.17%. Meanwhile, the Dow lost 0.18%, and the Nasdaq, a tech-heavy index, added 0.4%.
Shares of the world's largest biotech drugmaker have depreciated by 12.44% over the course of the past month, underperforming the Medical sector's gain of 0.65%, and the S&P 500's loss of 1.29%.
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 $5.69, marking a 0.89% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.91 billion, up 3.68% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $22.94 per share and a revenue of $38.81 billion, representing changes of +5.04% and +5.6%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Amgen. Such recent modifications usually signify the changing landscape of near-term business trends. 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 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.18% higher. As of now, Amgen holds a Zacks Rank of #3 (Hold).
Investors should also note Amgen's current valuation metrics, including its Forward P/E ratio of 16.56. This denotes a discount relative to the industry average Forward P/E of 23.81.
It is also worth noting that AMGN currently has a PEG ratio of 2.74. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.94 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 161, this industry ranks in the bottom 35% of all industries, numbering over 250.
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) Surpasses Market Returns: Some Facts Worth Knowing
Amgen (AMGN - Free Report) closed the most recent trading day at $385.65, moving +1.55% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.17%. Meanwhile, the Dow lost 0.18%, and the Nasdaq, a tech-heavy index, added 0.4%.
Shares of the world's largest biotech drugmaker have depreciated by 12.44% over the course of the past month, underperforming the Medical sector's gain of 0.65%, and the S&P 500's loss of 1.29%.
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 $5.69, marking a 0.89% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.91 billion, up 3.68% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $22.94 per share and a revenue of $38.81 billion, representing changes of +5.04% and +5.6%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Amgen. Such recent modifications usually signify the changing landscape of near-term business trends. 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 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.18% higher. As of now, Amgen holds a Zacks Rank of #3 (Hold).
Investors should also note Amgen's current valuation metrics, including its Forward P/E ratio of 16.56. This denotes a discount relative to the industry average Forward P/E of 23.81.
It is also worth noting that AMGN currently has a PEG ratio of 2.74. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.94 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 161, this industry ranks in the bottom 35% of all industries, numbering over 250.
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.