Amgen Inc. Forecasted to Earn Q1 2022 Earnings of $4.29 Per Share (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGNGet Rating) – Jefferies Financial Group reduced their Q1 2022 earnings per share estimates for Amgen in a research note issued on Sunday, April 17th. Jefferies Financial Group analyst M. Yee now expects that the medical research company will post earnings of $4.29 per share for the quarter, down from their prior estimate of $4.41. Jefferies Financial Group currently has a “Buy” rating and a $280.00 target price on the stock. Jefferies Financial Group also issued estimates for Amgen’s Q2 2022 earnings at $4.48 EPS, FY2022 earnings at $17.46 EPS, Q1 2023 earnings at $4.49 EPS, Q2 2023 earnings at $4.59 EPS, Q4 2023 earnings at $4.49 EPS, FY2023 earnings at $18.27 EPS and FY2024 earnings at $20.07 EPS.

Several other brokerages also recently issued reports on AMGN. Oppenheimer lifted their target price on Amgen from $272.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, February 9th. Wells Fargo & Company raised their price objective on Amgen from $210.00 to $250.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 9th. Bank of America lowered shares of Amgen from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $285.00 to $255.00 in a research report on Wednesday, January 5th. Mizuho boosted their price objective on Amgen from $194.00 to $202.00 in a report on Tuesday, March 1st. Finally, Morgan Stanley decreased their target price on Amgen from $238.00 to $237.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 12th. Two equities 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $235.24.

Shares of Amgen stock opened at $251.93 on Tuesday. The company has a debt-to-equity ratio of 4.96, a quick ratio of 1.26 and a current ratio of 1.59. The company has a fifty day moving average of $235.32 and a 200 day moving average of $222.95. The company has a market capitalization of $134.48 billion, a P/E ratio of 24.44, a P/E/G ratio of 1.52 and a beta of 0.59. Amgen has a fifty-two week low of $198.64 and a fifty-two week high of $261.00.

Amgen (NASDAQ:AMGNGet Rating) last released its quarterly earnings results on Monday, February 7th. The medical research company reported $4.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.14 by $0.22. Amgen had a return on equity of 120.59% and a net margin of 22.68%. The business had revenue of $6.85 billion during the quarter, compared to analyst estimates of $6.87 billion. During the same quarter in the previous year, the company posted $3.81 earnings per share. Amgen’s revenue for the quarter was up 3.2% on a year-over-year basis.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Amgen by 2.1% in the 4th quarter. BlackRock Inc. now owns 50,046,345 shares of the medical research company’s stock valued at $11,258,926,000 after purchasing an additional 1,032,929 shares during the last quarter. State Street Corp lifted its stake in Amgen by 1.7% during the fourth quarter. State Street Corp now owns 30,147,007 shares of the medical research company’s stock worth $6,782,172,000 after purchasing an additional 505,306 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Amgen by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 10,362,110 shares of the medical research company’s stock valued at $2,198,289,000 after buying an additional 367,936 shares in the last quarter. Morgan Stanley grew its holdings in shares of Amgen by 0.8% during the second quarter. Morgan Stanley now owns 10,040,932 shares of the medical research company’s stock worth $2,447,476,000 after purchasing an additional 80,922 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Amgen by 6.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,725,125 shares of the medical research company’s stock valued at $1,962,892,000 after acquiring an additional 561,955 shares during the period. Institutional investors and hedge funds own 74.53% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 8th. Shareholders of record on Tuesday, May 17th will be issued a $1.94 dividend. The ex-dividend date of this dividend is Monday, May 16th. This represents a $7.76 dividend on an annualized basis and a yield of 3.08%. Amgen’s 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.

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Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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