Amgen (AMGN) Advances While Market Declines: Some Information for Investors

Amgen (AMGN) closed at $328.97 in the latest trading session, marking a +1.44% move from the prior day. This move outpaced the S&P 500's daily loss of 0.53%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq lost 1%. Prior to today's trading, shares of the world's largest biotech drugmaker had lost 0.75% lagged the Medical sector's gain of 0.09% and the S&P 500's gain of 2.06%.The investment community will be closely monitoring the performance of Amgen in its forthcoming earnings report. On that day, Amgen is projected to report earnings of $4.72 per share, which would represent a year-over-year decline of 11.11%. Alongside, our most recent consensus estimate is anticipating revenue of $9.47 billion, indicating a 4.2% upward movement from the same quarter last year. For the full year, the Zacks Consensus Estimates are projecting earnings of $21.26 per share and revenue of $36.36 billion, which would represent changes of +7.16% and 0%, respectively, from the prior year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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 business outlook. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.21% downward. Currently, Amgen is carrying a Zacks Rank of #3 (Hold). Digging into valuation, Amgen currently has a Forward P/E ratio of 14.97. For comparison, its industry has an average Forward P/E of 20.82, which means Amgen is trading at a discount to the group. It is also worth noting that AMGN currently has a PEG ratio of 2.96. 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 1.49 at the close of the market yesterday. The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 40% of all industries, numbering over 250. 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. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amgen Inc. (AMGN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks