What is Zacks Research’s Estimate for Amgen FY2024 Earnings?

Amgen Inc. (NASDAQ:AMGN) – Equities research analysts at Zacks Research lifted their FY2024 earnings estimates for Amgen in a report issued on Wednesday, November 20th. Zacks Research analyst R. Department now anticipates that the medical research company will post earnings of $19.37 per share for the year, up from their previous estimate of $19.23. The consensus estimate for Amgen’s current full-year earnings is $19.51 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.

Other research analysts have also recently issued reports about the stock. UBS Group reduced their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and lifted their price objective for the company from $320.00 to $333.00 in a report on Monday, October 14th. Finally, Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Trading Up 1.6 %

AMGN opened at $294.53 on Friday. Amgen has a 1-year low of $260.68 and a 1-year high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The company has a market cap of $158.32 billion, a P/E ratio of 37.71, a price-to-earnings-growth ratio of 2.50 and a beta of 0.60. The company has a fifty day moving average price of $316.52 and a two-hundred day moving average price of $317.98.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $8.50 billion. During the same period in the previous year, the firm posted $4.96 earnings per share. The business’s revenue was up 23.2% compared to the same quarter last year.

Hedge Funds Weigh In On Amgen

Several large investors have recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in Amgen during the 3rd quarter valued at $25,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen during the 2nd quarter valued at $30,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the 3rd quarter valued at $29,000. nVerses Capital LLC bought a new stake in shares of Amgen during the 2nd quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of Amgen during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 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.