Amgen (AMGN) Set to Announce Quarterly Earnings on Wednesday

Amgen (NASDAQ:AMGN) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, October 30th. Analysts expect the company to announce 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.Parties that wish to listen to the company’s conference call can do so using this link.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same period last year, the business earned $5.00 earnings per share. The company’s quarterly revenue was up 20.1% on a year-over-year basis. 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 0.4 %

Amgen stock opened at $316.98 on Monday. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. Amgen has a one year low of $249.70 and a one year high of $346.85. The stock has a market capitalization of $170.04 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The business’s fifty day moving average is $325.49 and its 200 day moving average is $314.10.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.84%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMGN. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Sanford C. Bernstein began coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Morgan Stanley lowered their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Finally, Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and an average target price of $332.55.

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.