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In the latest market close, Amgen (AMGN - Free Report) reached $328.93, with a +0.92% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.45%. Elsewhere, the Dow lost 0.23%, while the tech-heavy Nasdaq added 0.84%.
The the stock of world's largest biotech drugmaker has risen by 1.85% in the past month, lagging the Medical sector's gain of 3.16% and the S&P 500's gain of 2.54%.
The investment community will be closely monitoring the performance of Amgen in its forthcoming earnings report. The company is forecasted to report an EPS of $5.13, showcasing a 3.43% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $8.51 billion, up 23.24% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $19.49 per share and revenue of $33.21 billion, indicating changes of +4.5% and +17.82%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Amgen. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. At present, Amgen boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Amgen is presently being traded at a Forward P/E ratio of 16.73. This valuation marks a discount compared to its industry's average Forward P/E of 22.47.
Meanwhile, AMGN's PEG ratio is currently 2.89. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 2.07.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 83, positioning it in the top 33% of all 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.
To follow AMGN in the coming trading sessions, be sure to utilize Zacks.com.
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Why Amgen (AMGN) Outpaced the Stock Market Today
In the latest market close, Amgen (AMGN - Free Report) reached $328.93, with a +0.92% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.45%. Elsewhere, the Dow lost 0.23%, while the tech-heavy Nasdaq added 0.84%.
The the stock of world's largest biotech drugmaker has risen by 1.85% in the past month, lagging the Medical sector's gain of 3.16% and the S&P 500's gain of 2.54%.
The investment community will be closely monitoring the performance of Amgen in its forthcoming earnings report. The company is forecasted to report an EPS of $5.13, showcasing a 3.43% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $8.51 billion, up 23.24% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $19.49 per share and revenue of $33.21 billion, indicating changes of +4.5% and +17.82%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Amgen. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. At present, Amgen boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Amgen is presently being traded at a Forward P/E ratio of 16.73. This valuation marks a discount compared to its industry's average Forward P/E of 22.47.
Meanwhile, AMGN's PEG ratio is currently 2.89. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 2.07.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 83, positioning it in the top 33% of all 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.
To follow AMGN in the coming trading sessions, be sure to utilize Zacks.com.