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Amgen (AMGN) Advances While Market Declines: Some Information for Investors
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In the latest trading session, Amgen (AMGN - Free Report) closed at $413.08, marking a +2.6% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.22%. Meanwhile, the Dow experienced a drop of 0.66%, and the technology-dominated Nasdaq saw a decrease of 0.22%.
The stock of world's largest biotech drugmaker has risen by 2.4% in the past month, leading the Medical sector's loss of 4.73% and the S&P 500's gain of 1.4%.
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. At the same time, our most recent consensus estimate is projecting a revenue of $9.91 billion, reflecting a 3.68% rise from the equivalent quarter last 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 note any recent changes to analyst estimates for Amgen. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.15% lower within the past month. Amgen is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Amgen is currently exchanging hands at a Forward P/E ratio of 17.55. This denotes a discount relative to the industry average Forward P/E of 23.39.
It's also important to note that AMGN currently trades at a PEG ratio of 2.9. 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. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 1.82.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 28% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
View the Zacks #1 Rank List
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Amgen (AMGN) Advances While Market Declines: Some Information for Investors
In the latest trading session, Amgen (AMGN - Free Report) closed at $413.08, marking a +2.6% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.22%. Meanwhile, the Dow experienced a drop of 0.66%, and the technology-dominated Nasdaq saw a decrease of 0.22%.
The stock of world's largest biotech drugmaker has risen by 2.4% in the past month, leading the Medical sector's loss of 4.73% and the S&P 500's gain of 1.4%.
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. At the same time, our most recent consensus estimate is projecting a revenue of $9.91 billion, reflecting a 3.68% rise from the equivalent quarter last 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 note any recent changes to analyst estimates for Amgen. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.15% lower within the past month. Amgen is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Amgen is currently exchanging hands at a Forward P/E ratio of 17.55. This denotes a discount relative to the industry average Forward P/E of 23.39.
It's also important to note that AMGN currently trades at a PEG ratio of 2.9. 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. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 1.82.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 28% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.