We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Amgen (AMGN) Advances But Underperforms Market: Key Facts
Read MoreHide Full Article
Amgen (AMGN - Free Report) ended the recent trading session at $334.85, demonstrating a +0.16% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 1.11% for the day. At the same time, the Dow added 1.64%, and the tech-heavy Nasdaq gained 1.03%.
Prior to today's trading, shares of the world's largest biotech drugmaker had gained 6.57% over the past month. This has outpaced the Medical sector's loss of 0.54% and the S&P 500's loss of 1.16% in that time.
Market participants will be closely following the financial results of Amgen in its upcoming release. The company plans to announce its earnings on August 6, 2024. The company is expected to report EPS of $4.92, down 1.6% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.3 billion, up 18.85% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $19.50 per share and revenue of $33.03 billion, which would represent changes of +4.56% and +17.17%, respectively, from the prior year.
Investors might also notice recent changes 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.15% higher within the past month. At present, Amgen boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Amgen is holding a Forward P/E ratio of 17.15. This denotes a discount relative to the industry's average Forward P/E of 24.41.
It is also worth noting that AMGN currently has a PEG ratio of 2.78. 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 2.16 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 81, placing it within the top 33% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Amgen (AMGN) Advances But Underperforms Market: Key Facts
Amgen (AMGN - Free Report) ended the recent trading session at $334.85, demonstrating a +0.16% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 1.11% for the day. At the same time, the Dow added 1.64%, and the tech-heavy Nasdaq gained 1.03%.
Prior to today's trading, shares of the world's largest biotech drugmaker had gained 6.57% over the past month. This has outpaced the Medical sector's loss of 0.54% and the S&P 500's loss of 1.16% in that time.
Market participants will be closely following the financial results of Amgen in its upcoming release. The company plans to announce its earnings on August 6, 2024. The company is expected to report EPS of $4.92, down 1.6% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.3 billion, up 18.85% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $19.50 per share and revenue of $33.03 billion, which would represent changes of +4.56% and +17.17%, respectively, from the prior year.
Investors might also notice recent changes 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.15% higher within the past month. At present, Amgen boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Amgen is holding a Forward P/E ratio of 17.15. This denotes a discount relative to the industry's average Forward P/E of 24.41.
It is also worth noting that AMGN currently has a PEG ratio of 2.78. 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 2.16 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 81, placing it within the top 33% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.