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Amgen (AMGN) Stock Moves -1.13%: What You Should Know
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In the latest trading session, Amgen (AMGN - Free Report) closed at $219.99, marking a -1.13% move from the previous day. This change was narrower than the S&P 500's 1.14% loss on the day. Meanwhile, the Dow lost 1.23%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Heading into today, shares of the world's largest biotech drugmaker had gained 7.97% over the past month, outpacing the Medical sector's loss of 0.74% and the S&P 500's loss of 1.37% in that time.
Wall Street will be looking for positivity from Amgen as it approaches its next earnings report date. On that day, Amgen is projected to report earnings of $4.10 per share, which would represent year-over-year growth of 7.61%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.9 billion, up 4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $16.84 per share and revenue of $26.05 billion, which would represent changes of +1.45% and +2.46%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Amgen. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.08% higher. Amgen is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Amgen is currently trading at a Forward P/E ratio of 13.21. For comparison, its industry has an average Forward P/E of 23.07, which means Amgen is trading at a discount to the group.
Meanwhile, AMGN's PEG ratio is currently 1.59. 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 1.6 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 157, which puts it in the bottom 39% 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.
To follow AMGN in the coming trading sessions, be sure to utilize Zacks.com.
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Amgen (AMGN) Stock Moves -1.13%: What You Should Know
In the latest trading session, Amgen (AMGN - Free Report) closed at $219.99, marking a -1.13% move from the previous day. This change was narrower than the S&P 500's 1.14% loss on the day. Meanwhile, the Dow lost 1.23%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Heading into today, shares of the world's largest biotech drugmaker had gained 7.97% over the past month, outpacing the Medical sector's loss of 0.74% and the S&P 500's loss of 1.37% in that time.
Wall Street will be looking for positivity from Amgen as it approaches its next earnings report date. On that day, Amgen is projected to report earnings of $4.10 per share, which would represent year-over-year growth of 7.61%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.9 billion, up 4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $16.84 per share and revenue of $26.05 billion, which would represent changes of +1.45% and +2.46%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Amgen. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.08% higher. Amgen is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Amgen is currently trading at a Forward P/E ratio of 13.21. For comparison, its industry has an average Forward P/E of 23.07, which means Amgen is trading at a discount to the group.
Meanwhile, AMGN's PEG ratio is currently 1.59. 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 1.6 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 157, which puts it in the bottom 39% 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.
To follow AMGN in the coming trading sessions, be sure to utilize Zacks.com.