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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 $268.98 in the latest trading session, marking a -0.02% move from the prior day. This change lagged the S&P 500's 0.02% gain on the day. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq gained 0.22%.
Heading into today, shares of the world's largest biotech drugmaker had gained 3.62% over the past month, outpacing the Medical sector's loss of 2.7% and the S&P 500's loss of 2.86% in that time.
Wall Street will be looking for positivity from Amgen as it approaches its next earnings report date. In that report, analysts expect Amgen to post earnings of $4.68 per share. This would mark a year-over-year decline of 0.43%. Meanwhile, our latest consensus estimate is calling for revenue of $6.94 billion, up 4.27% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $18.35 per share and revenue of $27.26 billion. These totals would mark changes of +3.73% and +3.55%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Amgen is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Amgen currently has a Forward P/E ratio of 14.66. For comparison, its industry has an average Forward P/E of 16.92, which means Amgen is trading at a discount to the group.
Meanwhile, AMGN's PEG ratio is currently 3.38. 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 industry currently had an average PEG ratio of 2.15 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 91, which puts it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Amgen (AMGN) Stock Sinks As Market Gains: What You Should Know
Amgen (AMGN - Free Report) closed at $268.98 in the latest trading session, marking a -0.02% move from the prior day. This change lagged the S&P 500's 0.02% gain on the day. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq gained 0.22%.
Heading into today, shares of the world's largest biotech drugmaker had gained 3.62% over the past month, outpacing the Medical sector's loss of 2.7% and the S&P 500's loss of 2.86% in that time.
Wall Street will be looking for positivity from Amgen as it approaches its next earnings report date. In that report, analysts expect Amgen to post earnings of $4.68 per share. This would mark a year-over-year decline of 0.43%. Meanwhile, our latest consensus estimate is calling for revenue of $6.94 billion, up 4.27% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $18.35 per share and revenue of $27.26 billion. These totals would mark changes of +3.73% and +3.55%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Amgen is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Amgen currently has a Forward P/E ratio of 14.66. For comparison, its industry has an average Forward P/E of 16.92, which means Amgen is trading at a discount to the group.
Meanwhile, AMGN's PEG ratio is currently 3.38. 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 industry currently had an average PEG ratio of 2.15 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 91, which puts it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.