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Amgen (AMGN) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Amgen (AMGN - Free Report) closed at $270.12, marking a -1.85% move from the previous day. This move lagged the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, added 11.55%.
Coming into today, shares of the world's largest biotech drugmaker had lost 1.24% in the past month. In that same time, the Medical sector gained 0.62%, while the S&P 500 lost 1.03%.
Investors will be hoping for strength from Amgen as it approaches its next earnings release. On that day, Amgen is projected to report earnings of $4.02 per share, which would represent a year-over-year decline of 7.8%. Our most recent consensus estimate is calling for quarterly revenue of $6.74 billion, down 1.57% from the year-ago period.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Within the past 30 days, our consensus EPS projection has moved 1.02% lower. Amgen is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Amgen currently has a Forward P/E ratio of 14.93. This valuation marks a discount compared to its industry's average Forward P/E of 20.24.
We can also see that AMGN currently has a PEG ratio of 1.95. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. AMGN's industry had an average PEG ratio of 1.57 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 56, which puts it in the top 23% 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Amgen (AMGN - Free Report) closed at $270.12, marking a -1.85% move from the previous day. This move lagged the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, added 11.55%.
Coming into today, shares of the world's largest biotech drugmaker had lost 1.24% in the past month. In that same time, the Medical sector gained 0.62%, while the S&P 500 lost 1.03%.
Investors will be hoping for strength from Amgen as it approaches its next earnings release. On that day, Amgen is projected to report earnings of $4.02 per share, which would represent a year-over-year decline of 7.8%. Our most recent consensus estimate is calling for quarterly revenue of $6.74 billion, down 1.57% from the year-ago period.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Within the past 30 days, our consensus EPS projection has moved 1.02% lower. Amgen is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Amgen currently has a Forward P/E ratio of 14.93. This valuation marks a discount compared to its industry's average Forward P/E of 20.24.
We can also see that AMGN currently has a PEG ratio of 1.95. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. AMGN's industry had an average PEG ratio of 1.57 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 56, which puts it in the top 23% 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.