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Amgen (AMGN) Stock Sinks As Market Gains: What You Should Know
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Amgen (AMGN - Free Report) closed at $230.58 in the latest trading session, marking a -1.12% move from the prior day. This change lagged the S&P 500's 1.68% gain on the day. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, lost 1.7%.
Coming into today, shares of the world's largest biotech drugmaker had lost 4.3% in the past month. In that same time, the Medical sector lost 5.62%, while the S&P 500 lost 6.68%.
Amgen will be looking to display strength as it nears its next earnings release. On that day, Amgen is projected to report earnings of $3.92 per share, which would represent a year-over-year decline of 7.76%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.2 billion, down 0.56% from the year-ago period.
AMGN's full-year Zacks Consensus Estimates are calling for earnings of $17.72 per share and revenue of $28.1 billion. These results would represent year-over-year changes of +0.17% and +6.74%, respectively.
Any recent changes to analyst estimates for Amgen should also be noted by investors. These revisions help to show the ever-changing nature of near-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.
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 0.79% lower. Amgen currently has a Zacks Rank of #3 (Hold).
Investors should also note Amgen's current valuation metrics, including its Forward P/E ratio of 13.16. This represents a discount compared to its industry's average Forward P/E of 18.05.
Also, we should mention that AMGN has a PEG ratio of 1.88. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.54 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 99, which puts it in the top 40% 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.
To follow AMGN in the coming trading sessions, be sure to utilize Zacks.com.
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Amgen (AMGN) Stock Sinks As Market Gains: What You Should Know
Amgen (AMGN - Free Report) closed at $230.58 in the latest trading session, marking a -1.12% move from the prior day. This change lagged the S&P 500's 1.68% gain on the day. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, lost 1.7%.
Coming into today, shares of the world's largest biotech drugmaker had lost 4.3% in the past month. In that same time, the Medical sector lost 5.62%, while the S&P 500 lost 6.68%.
Amgen will be looking to display strength as it nears its next earnings release. On that day, Amgen is projected to report earnings of $3.92 per share, which would represent a year-over-year decline of 7.76%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.2 billion, down 0.56% from the year-ago period.
AMGN's full-year Zacks Consensus Estimates are calling for earnings of $17.72 per share and revenue of $28.1 billion. These results would represent year-over-year changes of +0.17% and +6.74%, respectively.
Any recent changes to analyst estimates for Amgen should also be noted by investors. These revisions help to show the ever-changing nature of near-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.
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 0.79% lower. Amgen currently has a Zacks Rank of #3 (Hold).
Investors should also note Amgen's current valuation metrics, including its Forward P/E ratio of 13.16. This represents a discount compared to its industry's average Forward P/E of 18.05.
Also, we should mention that AMGN has a PEG ratio of 1.88. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.54 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 99, which puts it in the top 40% 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.
To follow AMGN in the coming trading sessions, be sure to utilize Zacks.com.