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The most recent trading session ended with Amgen (AMGN) standing at $264, reflecting a +0.24% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.73%. Meanwhile, the Dow experienced a rise of 0.16%, and the technology-dominated Nasdaq saw an increase of 0.98%.
Coming into today, shares of the world's largest biotech drugmaker had lost 10.58% in the past month. In that same time, the Medical sector lost 3.8%, while the S&P 500 gained 0.34%.
Market participants will be closely following the financial results of Amgen in its upcoming release. The company is expected to report EPS of $4.97, up 5.52% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $8.82 billion, up 7.66% from the year-ago period.
AMGN's full-year Zacks Consensus Estimates are calling for earnings of $19.53 per share and revenue of $33.16 billion. These results would represent year-over-year changes of +4.72% and +17.65%, respectively.
Investors should also note any recent changes to analyst estimates for Amgen. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. The Zacks Consensus EPS estimate has moved 0.09% higher within the past month. Amgen is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Amgen is currently exchanging hands at a Forward P/E ratio of 13.48. This expresses a discount compared to the average Forward P/E of 24.1 of its industry.
It is also worth noting that AMGN currently has a PEG ratio of 2.8. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.65.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 64, which puts it in the top 26% of all 250+ industries.