Amgen (AMGN) to Release Quarterly Earnings on Wednesday

Amgen (NASDAQ:AMGN) will release its earnings data before the market opens on Wednesday, October 30th. Analysts expect Amgen to post earnings of $5.13 per share for the quarter. Amgen has set its FY24 guidance at $19.10-20.10 EPS and its FY 2024 guidance at 19.100-20.100 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter last year, the business posted $5.00 earnings per share. The business’s revenue was up 20.1% compared to the same quarter last year. On average, analysts expect Amgen to post $19 EPS for the current fiscal year and $21 EPS for the next fiscal year.

Amgen Trading Up 0.9 %

Shares of Amgen stock opened at $319.66 on Wednesday. The stock has a fifty day moving average price of $325.93 and a 200-day moving average price of $313.11. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The firm has a market cap of $171.48 billion, a PE ratio of 45.67, a P/E/G ratio of 2.86 and a beta of 0.61. Amgen has a 1 year low of $249.70 and a 1 year high of $346.85.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AMGN shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Argus boosted their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 target price (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and boosted their price target for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Finally, Morgan Stanley reduced their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and an average target price of $332.55.

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.