Amgen Inc. (NASDAQ:AMGN) Expected to Announce Quarterly Sales of $6.08 Billion

Wall Street brokerages predict that Amgen Inc. (NASDAQ:AMGNGet Rating) will announce sales of $6.08 billion for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Amgen’s earnings, with estimates ranging from $5.89 billion to $6.24 billion. Amgen reported sales of $5.90 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.1%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Amgen will report full year sales of $26.08 billion for the current fiscal year, with estimates ranging from $25.51 billion to $26.28 billion. For the next fiscal year, analysts expect that the company will post sales of $27.13 billion, with estimates ranging from $26.00 billion to $28.25 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Amgen.

Amgen (NASDAQ:AMGNGet Rating) last announced its quarterly earnings data on Monday, February 7th. The medical research company reported $4.36 EPS for the quarter, beating analysts’ consensus estimates of $4.14 by $0.22. The company had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $6.87 billion. Amgen had a return on equity of 120.59% and a net margin of 22.68%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.81 EPS.

Several analysts have issued reports on the company. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 5th. Jefferies Financial Group upped their price target on shares of Amgen from $266.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, February 9th. Royal Bank of Canada lifted their price objective on shares of Amgen from $216.00 to $218.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 21st. Barclays increased their target price on Amgen from $233.00 to $236.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Morgan Stanley lowered their price target on Amgen from $238.00 to $237.00 and set an “equal weight” rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $235.24.

A number of institutional investors have recently bought and sold shares of AMGN. Norges Bank acquired a new stake in shares of Amgen in the fourth quarter worth about $1,138,930,000. Nordea Investment Management AB raised its stake in shares of Amgen by 155.5% in the 3rd quarter. Nordea Investment Management AB now owns 6,645,373 shares of the medical research company’s stock valued at $1,433,672,000 after acquiring an additional 4,044,262 shares in the last quarter. BlackRock Inc. lifted its holdings in Amgen by 2.5% in the 3rd quarter. BlackRock Inc. now owns 49,013,416 shares of the medical research company’s stock worth $10,422,702,000 after purchasing an additional 1,188,514 shares during the last quarter. Barclays PLC boosted its position in Amgen by 48.0% during the fourth quarter. Barclays PLC now owns 3,033,778 shares of the medical research company’s stock worth $682,507,000 after purchasing an additional 984,406 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Amgen by 625.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,101,853 shares of the medical research company’s stock valued at $247,884,000 after purchasing an additional 950,008 shares during the last quarter. 74.53% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ AMGN traded up $0.51 during mid-day trading on Monday, hitting $254.02. 2,861,779 shares of the company traded hands, compared to its average volume of 2,793,441. The company has a quick ratio of 1.26, a current ratio of 1.59 and a debt-to-equity ratio of 4.96. Amgen has a 1 year low of $198.64 and a 1 year high of $261.00. The stock has a market capitalization of $135.59 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 1.52 and a beta of 0.59. The business has a 50 day moving average of $235.10 and a two-hundred day moving average of $222.56.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 8th. Shareholders of record on Tuesday, May 17th will be given a $1.94 dividend. This represents a $7.76 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Monday, May 16th. Amgen’s dividend payout ratio is 75.27%.

Amgen Company Profile (Get Rating)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

Recommended Stories

Get a free copy of the Zacks research report on Amgen (AMGN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.