Celgene (CELG - Free Report) closed at $87.27 in the latest trading session, marking a -1.47% move from the prior day. This change lagged the S&P 500's 0.55% loss on the day. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 1.16%.
Prior to today's trading, shares of the biotechnology company had lost 1.44% over the past month. This has lagged the Medical sector's gain of 0.81% and the S&P 500's gain of 0.37% in that time.
CELG will be looking to display strength as it nears its next earnings release, which is expected to be October 25, 2018. On that day, CELG is projected to report earnings of $2.22 per share, which would represent year-over-year growth of 16.23%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.81 billion, up 15.8% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.77 per share and revenue of $15.11 billion. These totals would mark changes of +17.88% and +16.27%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CELG. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. CELG is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, CELG currently has a Forward P/E ratio of 10.11. This valuation marks a discount compared to its industry's average Forward P/E of 31.63.
Investors should also note that CELG has a PEG ratio of 0.46 right now. 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 Medical - Biomedical and Genetics industry currently had an average PEG ratio of 2.01 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 85, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.