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Amgen (AMGN) Stock Moves -0.39%: What You Should Know
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Amgen (AMGN - Free Report) closed at $334.30 in the latest trading session, marking a -0.39% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.51%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 0.93%.
The world's largest biotech drugmaker's stock has climbed by 7.29% in the past month, exceeding the Medical sector's gain of 0.03% and the S&P 500's loss of 0.26%.
The upcoming earnings release of Amgen will be of great interest to investors. The company's earnings report is expected on August 6, 2024. The company is forecasted to report an EPS of $4.92, showcasing a 1.6% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $8.3 billion, showing a 18.85% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $19.50 per share and revenue of $33.03 billion. These totals would mark changes of +4.56% and +17.17%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Amgen. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.15% increase. At present, Amgen boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Amgen is currently exchanging hands at a Forward P/E ratio of 17.21. This represents a discount compared to its industry's average Forward P/E of 24.35.
Meanwhile, AMGN's PEG ratio is currently 2.79. 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. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 2.13.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 83, placing it within the top 33% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Amgen (AMGN) Stock Moves -0.39%: What You Should Know
Amgen (AMGN - Free Report) closed at $334.30 in the latest trading session, marking a -0.39% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.51%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 0.93%.
The world's largest biotech drugmaker's stock has climbed by 7.29% in the past month, exceeding the Medical sector's gain of 0.03% and the S&P 500's loss of 0.26%.
The upcoming earnings release of Amgen will be of great interest to investors. The company's earnings report is expected on August 6, 2024. The company is forecasted to report an EPS of $4.92, showcasing a 1.6% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $8.3 billion, showing a 18.85% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $19.50 per share and revenue of $33.03 billion. These totals would mark changes of +4.56% and +17.17%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Amgen. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.15% increase. At present, Amgen boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Amgen is currently exchanging hands at a Forward P/E ratio of 17.21. This represents a discount compared to its industry's average Forward P/E of 24.35.
Meanwhile, AMGN's PEG ratio is currently 2.79. 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. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 2.13.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 83, placing it within the top 33% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.