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Amgen (AMGN) Dips More Than Broader Market: What You Should Know
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In the latest trading session, Amgen (AMGN - Free Report) closed at $321.01, marking a -0.43% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.21%. Meanwhile, the Dow experienced a drop of 0.14%, and the technology-dominated Nasdaq saw a decrease of 0.05%.
The world's largest biotech drugmaker's stock has dropped by 2.29% in the past month, exceeding the Medical sector's loss of 3.28% and lagging the S&P 500's gain of 5.94%.
The investment community will be closely monitoring the performance of Amgen in its forthcoming earnings report. The company is scheduled to release its earnings on October 30, 2024. 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. Meanwhile, our latest consensus estimate is calling for revenue of $8.51 billion, up 23.24% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $19.49 per share and a revenue of $33.21 billion, indicating changes of +4.5% and +17.82%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Amgen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 moved 0.02% higher. Amgen presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Amgen is presently trading at a Forward P/E ratio of 16.54. This represents a discount compared to its industry's average Forward P/E of 22.68.
It's also important to note that AMGN currently trades at a PEG ratio of 2.86. 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 average PEG ratio for the Medical - Biomedical and Genetics industry stood at 2.26 at the close of the market yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 84, positioning it in the top 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Amgen (AMGN) Dips More Than Broader Market: What You Should Know
In the latest trading session, Amgen (AMGN - Free Report) closed at $321.01, marking a -0.43% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.21%. Meanwhile, the Dow experienced a drop of 0.14%, and the technology-dominated Nasdaq saw a decrease of 0.05%.
The world's largest biotech drugmaker's stock has dropped by 2.29% in the past month, exceeding the Medical sector's loss of 3.28% and lagging the S&P 500's gain of 5.94%.
The investment community will be closely monitoring the performance of Amgen in its forthcoming earnings report. The company is scheduled to release its earnings on October 30, 2024. 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. Meanwhile, our latest consensus estimate is calling for revenue of $8.51 billion, up 23.24% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $19.49 per share and a revenue of $33.21 billion, indicating changes of +4.5% and +17.82%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Amgen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 moved 0.02% higher. Amgen presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Amgen is presently trading at a Forward P/E ratio of 16.54. This represents a discount compared to its industry's average Forward P/E of 22.68.
It's also important to note that AMGN currently trades at a PEG ratio of 2.86. 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 average PEG ratio for the Medical - Biomedical and Genetics industry stood at 2.26 at the close of the market yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 84, positioning it in the top 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.