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Amgen (AMGN) Dips More Than Broader Markets: What You Should Know
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Amgen (AMGN - Free Report) closed the most recent trading day at $245.59, moving -0.61% from the previous trading session. This move lagged the S&P 500's daily loss of 0.3%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.28%.
Coming into today, shares of the world's largest biotech drugmaker had gained 4.89% in the past month. In that same time, the Medical sector gained 5.06%, while the S&P 500 gained 1.51%.
Amgen will be looking to display strength as it nears its next earnings release, which is expected to be August 4, 2022. On that day, Amgen is projected to report earnings of $4.40 per share, which would represent year-over-year growth of 0.46%. Our most recent consensus estimate is calling for quarterly revenue of $6.53 billion, up 0.07% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.37 per share and revenue of $26.23 billion. These totals would mark changes of +1.58% and +0.96%, respectively, from last year.
Any recent changes to analyst estimates for Amgen should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.19% lower. Amgen currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Amgen currently has a Forward P/E ratio of 14.23. For comparison, its industry has an average Forward P/E of 22.08, which means Amgen is trading at a discount to the group.
We can also see that AMGN currently has a PEG ratio of 1.98. 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 1.23 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% 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.
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) Dips More Than Broader Markets: What You Should Know
Amgen (AMGN - Free Report) closed the most recent trading day at $245.59, moving -0.61% from the previous trading session. This move lagged the S&P 500's daily loss of 0.3%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.28%.
Coming into today, shares of the world's largest biotech drugmaker had gained 4.89% in the past month. In that same time, the Medical sector gained 5.06%, while the S&P 500 gained 1.51%.
Amgen will be looking to display strength as it nears its next earnings release, which is expected to be August 4, 2022. On that day, Amgen is projected to report earnings of $4.40 per share, which would represent year-over-year growth of 0.46%. Our most recent consensus estimate is calling for quarterly revenue of $6.53 billion, up 0.07% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.37 per share and revenue of $26.23 billion. These totals would mark changes of +1.58% and +0.96%, respectively, from last year.
Any recent changes to analyst estimates for Amgen should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.19% lower. Amgen currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Amgen currently has a Forward P/E ratio of 14.23. For comparison, its industry has an average Forward P/E of 22.08, which means Amgen is trading at a discount to the group.
We can also see that AMGN currently has a PEG ratio of 1.98. 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 1.23 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.