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Amgen (AMGN) Outpaces Stock Market Gains: What You Should Know
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Amgen (AMGN - Free Report) closed the most recent trading day at $253.51, moving +1.39% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.12%. Elsewhere, the Dow gained 1.01%, while the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the world's largest biotech drugmaker had gained 7.98% in the past month. In that same time, the Medical sector gained 7.36%, while the S&P 500 gained 4.63%.
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 $4.19 per share, which would represent year-over-year growth of 13.24%. Our most recent consensus estimate is calling for quarterly revenue of $6.1 billion, up 3.39% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.57 per share and revenue of $26.08 billion. These totals would mark changes of +2.75% and +0.37%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Amgen. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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 0.3% higher within the past month. Amgen currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Amgen has a Forward P/E ratio of 14.23 right now. This valuation marks a discount compared to its industry's average Forward P/E of 21.36.
We can also see that AMGN currently has a PEG ratio of 1.5. 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 was holding an average PEG ratio of 1.24 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Amgen (AMGN) Outpaces Stock Market Gains: What You Should Know
Amgen (AMGN - Free Report) closed the most recent trading day at $253.51, moving +1.39% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.12%. Elsewhere, the Dow gained 1.01%, while the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the world's largest biotech drugmaker had gained 7.98% in the past month. In that same time, the Medical sector gained 7.36%, while the S&P 500 gained 4.63%.
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 $4.19 per share, which would represent year-over-year growth of 13.24%. Our most recent consensus estimate is calling for quarterly revenue of $6.1 billion, up 3.39% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.57 per share and revenue of $26.08 billion. These totals would mark changes of +2.75% and +0.37%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Amgen. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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 0.3% higher within the past month. Amgen currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Amgen has a Forward P/E ratio of 14.23 right now. This valuation marks a discount compared to its industry's average Forward P/E of 21.36.
We can also see that AMGN currently has a PEG ratio of 1.5. 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 was holding an average PEG ratio of 1.24 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.