Zacks Research Issues Negative Forecast for Amgen Earnings

Amgen Inc. (NASDAQ:AMGN) – Research analysts at Zacks Research lowered their Q4 2024 earnings estimates for shares of Amgen in a report released on Wednesday, November 20th. Zacks Research analyst R. Department now anticipates that the medical research company will post earnings per share of $4.86 for the quarter, down from their previous forecast of $5.40. The consensus estimate for Amgen’s current full-year earnings is $19.52 per share. Zacks Research also issued estimates for Amgen’s Q3 2025 earnings at $5.22 EPS and Q3 2026 earnings at $5.44 EPS.

A number of other equities analysts have also recently issued reports on the company. Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Wolfe Research initiated coverage on Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. UBS Group reduced their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $333.57.

Amgen Stock Up 1.6 %

Shares of AMGN opened at $294.53 on Monday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen has a 52 week low of $260.68 and a 52 week high of $346.85. The stock has a market capitalization of $158.32 billion, a price-to-earnings ratio of 37.71, a PEG ratio of 2.59 and a beta of 0.60. The stock has a fifty day moving average of $316.52 and a 200-day moving average of $318.18.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AMGN. Meyer Handelman Co. boosted its position in shares of Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after purchasing an additional 8,700 shares in the last quarter. Swiss National Bank raised its stake in Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after buying an additional 5,500 shares during the period. First Horizon Advisors Inc. boosted its holdings in Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock worth $19,581,000 after acquiring an additional 1,872 shares in the last quarter. Napa Wealth Management bought a new position in Amgen in the third quarter worth approximately $1,104,000. Finally, Second Half Financial Partners LLC acquired a new stake in Amgen in the third quarter valued at approximately $3,413,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Announces Dividend

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

About Amgen

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.