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In the latest close session, Amgen (AMGN - Free Report) was up +2.11% at $414.61. The stock's change was more than the S&P 500's daily gain of 0.51%. At the same time, the Dow added 0.93%, and the tech-heavy Nasdaq gained 0.48%.
The stock of world's largest biotech drugmaker has fallen by 7.08% in the past month, lagging the Medical sector's loss of 3.38% and the S&P 500's gain of 0.74%.
The investment community will be paying close attention to the earnings performance of Amgen in its upcoming release. In that report, analysts expect Amgen to post earnings of $5.69 per share. This would mark year-over-year growth of 0.89%. Simultaneously, our latest consensus estimate expects the revenue to be $9.91 billion, showing a 3.68% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $22.94 per share and a revenue of $38.81 billion, demonstrating changes of +5.04% and +5.6%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Amgen. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.06% upward. Amgen is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Amgen is currently trading at a Forward P/E ratio of 17.7. This signifies a discount in comparison to the average Forward P/E of 25.2 for its industry.
It is also worth noting that AMGN currently has a PEG ratio of 2.93. 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. The average PEG ratio for the Medical - Biomedical and Genetics industry stood at 1.91 at the close of the market yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 172, this industry ranks in the bottom 31% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Amgen (AMGN) Rises Higher Than Market: Key Facts
In the latest close session, Amgen (AMGN - Free Report) was up +2.11% at $414.61. The stock's change was more than the S&P 500's daily gain of 0.51%. At the same time, the Dow added 0.93%, and the tech-heavy Nasdaq gained 0.48%.
The stock of world's largest biotech drugmaker has fallen by 7.08% in the past month, lagging the Medical sector's loss of 3.38% and the S&P 500's gain of 0.74%.
The investment community will be paying close attention to the earnings performance of Amgen in its upcoming release. In that report, analysts expect Amgen to post earnings of $5.69 per share. This would mark year-over-year growth of 0.89%. Simultaneously, our latest consensus estimate expects the revenue to be $9.91 billion, showing a 3.68% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $22.94 per share and a revenue of $38.81 billion, demonstrating changes of +5.04% and +5.6%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Amgen. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.06% upward. Amgen is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Amgen is currently trading at a Forward P/E ratio of 17.7. This signifies a discount in comparison to the average Forward P/E of 25.2 for its industry.
It is also worth noting that AMGN currently has a PEG ratio of 2.93. 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. The average PEG ratio for the Medical - Biomedical and Genetics industry stood at 1.91 at the close of the market yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 172, this industry ranks in the bottom 31% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.