Yahoo Finance Amgen (AMGN) Gains As Market Dips: What You Should Know
Amgen (AMGN) closed at $245.95 in the latest trading session, marking a +0.07% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.93%. Meanwhile, the Dow lost 0.43%, and the Nasdaq, a tech-heavy index, lost 0.17%.
Coming into today, shares of the world's largest biotech drugmaker had gained 1.11% in the past month. In that same time, the Medical sector gained 6.13%, while the S&P 500 gained 6.31%.
Wall Street will be looking for positivity from Amgen as it approaches its next earnings report date. This is expected to be August 4, 2022. The company is expected to report EPS of $4.40, up 0.46% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.54 billion, up 0.21% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.39 per share and revenue of $26.26 billion. These totals would mark changes of +1.7% and +1.08%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Amgen. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.09% lower within the past month. Amgen is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Amgen is holding a Forward P/E ratio of 14.14. This valuation marks a discount compared to its industry's average Forward P/E of 23.2.
Investors should also note that AMGN has a PEG ratio of 1.97 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.35 based on yesterday's closing prices.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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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