Equities Analysts Issue Forecasts for Amgen FY2024 Earnings

Amgen Inc. (NASDAQ:AMGN) – Investment analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Amgen in a research report issued to clients and investors on Wednesday, November 20th. Zacks Research analyst R. Department now expects that the medical research company will post earnings per share of $19.37 for the year, up from their previous estimate of $19.23. The consensus estimate for Amgen’s current full-year earnings is $19.52 per share. Zacks Research also issued estimates for Amgen’s Q1 2025 earnings at $4.57 EPS, Q2 2025 earnings at $5.03 EPS, Q4 2025 earnings at $5.26 EPS, FY2025 earnings at $20.08 EPS, Q1 2026 earnings at $4.69 EPS and Q2 2026 earnings at $5.14 EPS.

Several other research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Robert W. Baird restated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. Finally, Citigroup began coverage on Amgen in a report on Thursday, November 14th. They set a “neutral” rating and a $335.00 target price on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $333.57.

Amgen Trading Up 1.6 %

Shares of AMGN stock opened at $294.53 on Friday. Amgen has a twelve month low of $260.68 and a twelve month high of $346.85. The stock’s fifty day simple moving average is $316.52 and its 200 day simple moving average is $318.11. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The firm has a market capitalization of $158.32 billion, a P/E ratio of 37.71, a P/E/G ratio of 2.59 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the prior year, the business earned $4.96 earnings per share. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year.

Institutional Trading of Amgen

Several hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Amgen during the third quarter worth $25,000. Strategic Financial Concepts LLC bought a new position in Amgen in the 2nd quarter worth about $26,000. Legacy Investment Solutions LLC purchased a new position in Amgen during the 3rd quarter valued at about $29,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen during the second quarter valued at about $30,000. Finally, nVerses Capital LLC bought a new stake in shares of Amgen during the second quarter valued at about $31,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.06%. Amgen’s payout ratio is 115.24%.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.