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Amgen (AMGN) Stock Declines While Market Improves: Some Information for Investors
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Amgen (AMGN - Free Report) closed at $335.61 in the latest trading session, marking a -0.52% move from the prior day. This change lagged the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.15%.
Shares of the world's largest biotech drugmaker witnessed a gain of 2.61% over the previous month, beating the performance of the Medical sector with its gain of 0.38% and the S&P 500's gain of 2%.
Market participants will be closely following the financial results of Amgen in its upcoming release. 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. At the same time, our most recent consensus estimate is projecting a revenue of $8.51 billion, reflecting a 23.24% rise from the equivalent quarter last year.
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.
It's also important for investors to be aware of any recent modifications to analyst estimates for Amgen. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.06% lower. Amgen presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Amgen currently has a Forward P/E ratio of 17.31. This signifies a discount in comparison to the average Forward P/E of 21.81 for its industry.
One should further note that AMGN currently holds a PEG ratio of 3. 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 2.29.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 79, this industry ranks in the top 32% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Amgen (AMGN) Stock Declines While Market Improves: Some Information for Investors
Amgen (AMGN - Free Report) closed at $335.61 in the latest trading session, marking a -0.52% move from the prior day. This change lagged the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.15%.
Shares of the world's largest biotech drugmaker witnessed a gain of 2.61% over the previous month, beating the performance of the Medical sector with its gain of 0.38% and the S&P 500's gain of 2%.
Market participants will be closely following the financial results of Amgen in its upcoming release. 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. At the same time, our most recent consensus estimate is projecting a revenue of $8.51 billion, reflecting a 23.24% rise from the equivalent quarter last year.
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.
It's also important for investors to be aware of any recent modifications to analyst estimates for Amgen. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.06% lower. Amgen presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Amgen currently has a Forward P/E ratio of 17.31. This signifies a discount in comparison to the average Forward P/E of 21.81 for its industry.
One should further note that AMGN currently holds a PEG ratio of 3. 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 2.29.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 79, this industry ranks in the top 32% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.