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Amgen (AMGN) Gains As Market Dips: What You Should Know
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Amgen (AMGN - Free Report) closed at $175.60 in the latest trading session, marking a +0.56% move from the prior day. This move outpaced the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.38%.
Prior to today's trading, shares of the world's largest biotech drugmaker had gained 4.06% over the past month. This has outpaced the Medical sector's gain of 1.65% and the S&P 500's gain of 0.33% in that time.
Wall Street will be looking for positivity from AMGN as it approaches its next earnings report date. The company is expected to report EPS of $3.59, down 6.27% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.66 billion, down 6.63% from the prior-year quarter.
AMGN's full-year Zacks Consensus Estimates are calling for earnings of $13.92 per share and revenue of $22.58 billion. These results would represent year-over-year changes of -3.33% and -4.94%, respectively.
Investors might also notice recent changes to analyst estimates for AMGN. Recent revisions tend to reflect the latest near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 0.08% lower within the past month. AMGN is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, AMGN is currently trading at a Forward P/E ratio of 12.55. For comparison, its industry has an average Forward P/E of 22.88, which means AMGN is trading at a discount to the group.
It is also worth noting that AMGN currently has a PEG ratio of 2.13. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.74 based on yesterday's closing prices.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.
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Amgen (AMGN) Gains As Market Dips: What You Should Know
Amgen (AMGN - Free Report) closed at $175.60 in the latest trading session, marking a +0.56% move from the prior day. This move outpaced the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.38%.
Prior to today's trading, shares of the world's largest biotech drugmaker had gained 4.06% over the past month. This has outpaced the Medical sector's gain of 1.65% and the S&P 500's gain of 0.33% in that time.
Wall Street will be looking for positivity from AMGN as it approaches its next earnings report date. The company is expected to report EPS of $3.59, down 6.27% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.66 billion, down 6.63% from the prior-year quarter.
AMGN's full-year Zacks Consensus Estimates are calling for earnings of $13.92 per share and revenue of $22.58 billion. These results would represent year-over-year changes of -3.33% and -4.94%, respectively.
Investors might also notice recent changes to analyst estimates for AMGN. Recent revisions tend to reflect the latest near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 0.08% lower within the past month. AMGN is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, AMGN is currently trading at a Forward P/E ratio of 12.55. For comparison, its industry has an average Forward P/E of 22.88, which means AMGN is trading at a discount to the group.
It is also worth noting that AMGN currently has a PEG ratio of 2.13. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.74 based on yesterday's closing prices.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.