Amgen(US:AMGN) ZACKS·2024-06-07 22:57Core Viewpoint - Amgen's stock has underperformed compared to the broader market and the Medical sector, with upcoming earnings expected to show a decline in EPS but an increase in revenue [1][2]. Group 1: Stock Performance - Amgen closed at $305.02, reflecting a -0.22% change from the previous day, which is slightly better than the S&P 500's loss of 0.11% [1]. - Over the last month, Amgen's shares decreased by 2.29%, while the Medical sector gained 4.12% and the S&P 500 gained 3.51% [1]. Group 2: Earnings Estimates - The upcoming EPS for Amgen is projected at $4.86, indicating a 2.8% decline compared to the same quarter last year [1]. - Revenue for the upcoming quarter is estimated at $8.27 billion, representing an 18.34% increase from the prior-year quarter [1]. - For the entire fiscal year, earnings are projected at $19.47 per share and revenue at $32.98 billion, reflecting changes of +4.4% and +17.01% respectively from the prior year [1]. Group 3: Analyst Estimates and Valuation - Recent analyst estimate revisions for Amgen have shown a 0.06% increase in the Zacks Consensus EPS estimate over the past month [2]. - Amgen currently holds a Zacks Rank of 3 (Hold), indicating a neutral outlook based on analyst estimates [2]. - The Forward P/E ratio for Amgen is 15.7, which is lower than the industry average of 22.87, suggesting that Amgen is trading at a discount [3]. - Amgen's PEG ratio stands at 2.76, compared to the industry average of 2.12, indicating a higher expected earnings growth rate relative to its price [3]. - The Medical - Biomedical and Genetics industry, which includes Amgen, has a Zacks Industry Rank of 83, placing it in the top 33% of over 250 industries [3].