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Here's Why Amgen (AMGN) Fell More Than Broader Market
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Amgen (AMGN - Free Report) closed at $439.26 in the latest trading session, marking a -1.79% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.52%. Meanwhile, the Dow experienced a drop of 1.24%, and the technology-dominated Nasdaq saw a decrease of 0.21%.
Shares of the world's largest biotech drugmaker witnessed a gain of 10.16% over the previous month, beating the performance of the Medical sector with its gain of 3.23%, and the S&P 500's loss of 1.21%.
The investment community will be paying close attention to the earnings performance of Amgen in its upcoming release. The company is slated to reveal its earnings on November 3, 2026. On that day, Amgen is projected to report earnings of $5.72 per share, which would represent year-over-year growth of 1.42%. At the same time, our most recent consensus estimate is projecting a revenue of $9.93 billion, reflecting a 3.94% rise from the equivalent quarter last year.
AMGN's full-year Zacks Consensus Estimates are calling for earnings of $22.94 per share and revenue of $38.85 billion. These results would represent year-over-year changes of +5.04% and +5.72%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Amgen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.02% higher. Amgen currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Amgen is currently being traded at a Forward P/E ratio of 19.5. For comparison, its industry has an average Forward P/E of 25.2, which means Amgen is trading at a discount to the group.
One should further note that AMGN currently holds a PEG ratio of 3.28. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.77 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 42% of all 250+ industries.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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Here's Why Amgen (AMGN) Fell More Than Broader Market
Amgen (AMGN - Free Report) closed at $439.26 in the latest trading session, marking a -1.79% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.52%. Meanwhile, the Dow experienced a drop of 1.24%, and the technology-dominated Nasdaq saw a decrease of 0.21%.
Shares of the world's largest biotech drugmaker witnessed a gain of 10.16% over the previous month, beating the performance of the Medical sector with its gain of 3.23%, and the S&P 500's loss of 1.21%.
The investment community will be paying close attention to the earnings performance of Amgen in its upcoming release. The company is slated to reveal its earnings on November 3, 2026. On that day, Amgen is projected to report earnings of $5.72 per share, which would represent year-over-year growth of 1.42%. At the same time, our most recent consensus estimate is projecting a revenue of $9.93 billion, reflecting a 3.94% rise from the equivalent quarter last year.
AMGN's full-year Zacks Consensus Estimates are calling for earnings of $22.94 per share and revenue of $38.85 billion. These results would represent year-over-year changes of +5.04% and +5.72%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Amgen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.02% higher. Amgen currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Amgen is currently being traded at a Forward P/E ratio of 19.5. For comparison, its industry has an average Forward P/E of 25.2, which means Amgen is trading at a discount to the group.
One should further note that AMGN currently holds a PEG ratio of 3.28. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.77 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 42% of all 250+ industries.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.