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Amgen (AMGN) Gains But Lags Market: What You Should Know
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Amgen (AMGN - Free Report) closed the most recent trading day at $247.42, moving +0.88% from the previous trading session. This change lagged the S&P 500's 1.5% gain on the day. Elsewhere, the Dow gained 1.12%, while the tech-heavy Nasdaq added 0.32%.
Coming into today, shares of the world's largest biotech drugmaker had lost 0.09% in the past month. In that same time, the Medical sector lost 0.3%, while the S&P 500 lost 6.54%.
Investors will be hoping for strength from Amgen as it approaches its next earnings release, which is expected to be August 4, 2022. The company is expected to report EPS of $4.41, up 0.68% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.53 billion, up 0.08% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.44 per share and revenue of $26.23 billion. These totals would mark changes of +1.99% and +0.97%, 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 0.41% lower. Amgen is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Amgen has a Forward P/E ratio of 14.06 right now. Its industry sports an average Forward P/E of 22.2, so we one might conclude that Amgen is trading at a discount comparatively.
We can also see that AMGN currently has a PEG ratio of 2.1. 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. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.14 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 78, 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Amgen (AMGN) Gains But Lags Market: What You Should Know
Amgen (AMGN - Free Report) closed the most recent trading day at $247.42, moving +0.88% from the previous trading session. This change lagged the S&P 500's 1.5% gain on the day. Elsewhere, the Dow gained 1.12%, while the tech-heavy Nasdaq added 0.32%.
Coming into today, shares of the world's largest biotech drugmaker had lost 0.09% in the past month. In that same time, the Medical sector lost 0.3%, while the S&P 500 lost 6.54%.
Investors will be hoping for strength from Amgen as it approaches its next earnings release, which is expected to be August 4, 2022. The company is expected to report EPS of $4.41, up 0.68% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.53 billion, up 0.08% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.44 per share and revenue of $26.23 billion. These totals would mark changes of +1.99% and +0.97%, 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 0.41% lower. Amgen is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Amgen has a Forward P/E ratio of 14.06 right now. Its industry sports an average Forward P/E of 22.2, so we one might conclude that Amgen is trading at a discount comparatively.
We can also see that AMGN currently has a PEG ratio of 2.1. 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. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.14 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 78, 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.