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Amgen (AMGN - Free Report) ended the recent trading session at $335.26, demonstrating a +0.85% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.13%. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Shares of the world's largest biotech drugmaker witnessed a gain of 3.43% over the previous month, beating the performance of the Medical sector with its gain of 3.34% and underperforming the S&P 500's gain of 3.67%.
Analysts and investors alike will be keeping a close eye on the performance of Amgen in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $5.13, marking a 3.43% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $8.51 billion, showing a 23.24% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $19.49 per share and a revenue of $33.21 billion, representing changes of +4.5% and +17.82%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Amgen. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.06% fall in the Zacks Consensus EPS estimate. Amgen is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Amgen is at present trading with a Forward P/E ratio of 17.06. Its industry sports an average Forward P/E of 23.4, so one might conclude that Amgen is trading at a discount comparatively.
It is also worth noting that AMGN currently has a PEG ratio of 2.95. 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. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 2.18.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% of all 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.
To follow AMGN in the coming trading sessions, be sure to utilize Zacks.com.
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Amgen (AMGN) Rises Higher Than Market: Key Facts
Amgen (AMGN - Free Report) ended the recent trading session at $335.26, demonstrating a +0.85% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.13%. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Shares of the world's largest biotech drugmaker witnessed a gain of 3.43% over the previous month, beating the performance of the Medical sector with its gain of 3.34% and underperforming the S&P 500's gain of 3.67%.
Analysts and investors alike will be keeping a close eye on the performance of Amgen in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $5.13, marking a 3.43% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $8.51 billion, showing a 23.24% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $19.49 per share and a revenue of $33.21 billion, representing changes of +4.5% and +17.82%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Amgen. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.06% fall in the Zacks Consensus EPS estimate. Amgen is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Amgen is at present trading with a Forward P/E ratio of 17.06. Its industry sports an average Forward P/E of 23.4, so one might conclude that Amgen is trading at a discount comparatively.
It is also worth noting that AMGN currently has a PEG ratio of 2.95. 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. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 2.18.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% of all 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.
To follow AMGN in the coming trading sessions, be sure to utilize Zacks.com.