We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Amgen (AMGN) Stock Dips While Market Gains: Key Facts
Read MoreHide Full Article
In the latest trading session, Amgen (AMGN - Free Report) closed at $407.27, marking a -3.38% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.2% for the day. On the other hand, the Dow registered a gain of 0.04%, and the technology-centric Nasdaq increased by 0.04%.
Prior to today's trading, shares of the world's largest biotech drugmaker had lost 4.82% lagged the Medical sector's loss of 1.75% and the S&P 500's loss of 0.35%.
Analysts and investors alike will be keeping a close eye on the performance of Amgen in its upcoming earnings disclosure. The company's upcoming EPS is projected at $5.69, signifying a 0.89% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $9.91 billion, indicating a 3.68% growth compared to the corresponding quarter of the prior year.
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.
Investors should also take note of any recent adjustments to analyst estimates for Amgen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.15% lower within the past month. Right now, Amgen possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Amgen has a Forward P/E ratio of 18.38 right now. This represents a discount compared to its industry average Forward P/E of 22.46.
Also, we should mention that AMGN has a PEG ratio of 3.04. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Medical - Biomedical and Genetics industry was having an average PEG ratio of 1.91.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 182, this industry ranks in the bottom 27% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
Image: Bigstock
Amgen (AMGN) Stock Dips While Market Gains: Key Facts
In the latest trading session, Amgen (AMGN - Free Report) closed at $407.27, marking a -3.38% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.2% for the day. On the other hand, the Dow registered a gain of 0.04%, and the technology-centric Nasdaq increased by 0.04%.
Prior to today's trading, shares of the world's largest biotech drugmaker had lost 4.82% lagged the Medical sector's loss of 1.75% and the S&P 500's loss of 0.35%.
Analysts and investors alike will be keeping a close eye on the performance of Amgen in its upcoming earnings disclosure. The company's upcoming EPS is projected at $5.69, signifying a 0.89% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $9.91 billion, indicating a 3.68% growth compared to the corresponding quarter of the prior year.
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.
Investors should also take note of any recent adjustments to analyst estimates for Amgen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.15% lower within the past month. Right now, Amgen possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Amgen has a Forward P/E ratio of 18.38 right now. This represents a discount compared to its industry average Forward P/E of 22.46.
Also, we should mention that AMGN has a PEG ratio of 3.04. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Medical - Biomedical and Genetics industry was having an average PEG ratio of 1.91.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 182, this industry ranks in the bottom 27% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.