Wall Street brokerages forecast that Amgen, Inc. (NASDAQ:AMGN) will announce earnings of $3.59 per share for the current quarter, Zacks reports. Seven analysts have provided estimates for Amgen’s earnings. The lowest EPS estimate is $3.33 and the highest is $3.80. Amgen posted earnings per share of $3.83 during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.3%. The firm is scheduled to report its next quarterly earnings report on Thursday, July 25th.
According to Zacks, analysts expect that Amgen will report full-year earnings of $13.93 per share for the current fiscal year, with EPS estimates ranging from $13.30 to $14.34. For the next year, analysts forecast that the company will report earnings of $14.78 per share, with EPS estimates ranging from $13.55 to $15.84. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Amgen.
Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, April 30th. The medical research company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $0.11. The business had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.55 billion. Amgen had a return on equity of 71.02% and a net margin of 34.00%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.47 EPS.
Several research firms have weighed in on AMGN. Mizuho set a $208.00 price objective on Amgen and gave the stock a “buy” rating in a report on Friday, April 12th. BidaskClub lowered Amgen from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Zacks Investment Research lowered Amgen from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Cowen reaffirmed a “buy” rating and issued a $234.00 price objective on shares of Amgen in a report on Tuesday, February 26th. Finally, Leerink Swann cut their price objective on Amgen from $200.00 to $192.00 and set a “market perform” rating for the company in a report on Wednesday, January 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $208.84.
In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $193.18, for a total value of $386,360.00. Following the transaction, the director now directly owns 15,092 shares of the company’s stock, valued at approximately $2,915,472.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 6,000 shares of company stock worth $1,115,580 over the last three months. Corporate insiders own 0.25% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC boosted its stake in shares of Amgen by 3.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 154,783 shares of the medical research company’s stock worth $32,085,000 after acquiring an additional 5,836 shares in the last quarter. Federated Investors Inc. PA lifted its stake in Amgen by 296.1% in the 3rd quarter. Federated Investors Inc. PA now owns 352,802 shares of the medical research company’s stock worth $73,133,000 after purchasing an additional 263,736 shares in the last quarter. Arlington Partners LLC increased its holdings in shares of Amgen by 86.7% during the 4th quarter. Arlington Partners LLC now owns 140 shares of the medical research company’s stock worth $27,000 after buying an additional 65 shares during the last quarter. New England Research & Management Inc. increased its holdings in shares of Amgen by 47.0% during the 4th quarter. New England Research & Management Inc. now owns 8,162 shares of the medical research company’s stock worth $1,589,000 after buying an additional 2,610 shares during the last quarter. Finally, Abner Herrman & Brock LLC increased its holdings in shares of Amgen by 4.4% during the 4th quarter. Abner Herrman & Brock LLC now owns 59,018 shares of the medical research company’s stock worth $11,489,000 after buying an additional 2,505 shares during the last quarter. Institutional investors and hedge funds own 80.65% of the company’s stock.
AMGN stock traded up $3.79 during trading on Friday, hitting $171.61. 1,487,535 shares of the company traded hands, compared to its average volume of 3,056,764. The stock has a market capitalization of $102.23 billion, a PE ratio of 11.92, a P/E/G ratio of 2.21 and a beta of 1.15. Amgen has a 1 year low of $166.30 and a 1 year high of $210.19. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.77 and a quick ratio of 2.53.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is 40.28%.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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