Amgen Inc. (NASDAQ:AMGN) to Post Q2 2022 Earnings of $4.45 Per Share, Jefferies Financial Group Forecasts

Amgen Inc. (NASDAQ:AMGN – Get Rating) – Research analysts at Jefferies Financial Group cut their Q2 2022 earnings estimates for Amgen in a research report issued to clients and investors on Wednesday, April 27th. Jefferies Financial Group analyst M. Yee now anticipates that the medical research company will post earnings of $4.45 per share for the quarter, down from their prior estimate of $4.48. Jefferies Financial Group currently has a “Buy” rating and a $280.00 price target on the stock. Jefferies Financial Group also issued estimates for Amgen’s FY2022 earnings at $17.15 EPS, Q1 2023 earnings at $4.43 EPS, Q2 2023 earnings at $4.62 EPS, Q3 2023 earnings at $4.61 EPS, Q4 2023 earnings at $4.40 EPS, FY2023 earnings at $18.06 EPS and FY2024 earnings at $19.72 EPS.

Amgen (NASDAQ:AMGN – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.10 by $0.15. Amgen had a return on equity of 120.59% and a net margin of 22.68%. During the same quarter in the prior year, the firm earned $3.70 earnings per share.

Several other research analysts have also recently commented on AMGN. Wells Fargo & Company increased their price target 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 cut Amgen from a “buy” rating to a “neutral” rating and reduced their price target for the company from $285.00 to $255.00 in a research report on Wednesday, January 5th. Barclays increased their price target on Amgen from $233.00 to $236.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 12th. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 5th. Finally, Mizuho raised their price objective on Amgen from $194.00 to $202.00 in a research report on Tuesday, March 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus target price of $237.50.

Shares of NASDAQ AMGN opened at $238.13 on Friday. The stock has a 50 day moving average price of $239.24 and a 200 day moving average price of $225.03. Amgen has a 52 week low of $198.64 and a 52 week high of $258.81. 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 stock has a market capitalization of $127.11 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 1.53 and a beta of 0.59.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 8th. Stockholders of record on Tuesday, May 17th will be paid a dividend of $1.94 per share. The ex-dividend date is Monday, May 16th. This represents a $7.76 dividend on an annualized basis and a dividend yield of 3.26%. Amgen’s dividend payout ratio (DPR) is currently 75.27%.

Several hedge funds and other institutional investors have recently made changes to their positions in AMGN. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in shares of Amgen during the fourth quarter worth approximately $26,000. Norwood Financial Corp bought a new position in Amgen during the 4th quarter worth $28,000. Landmark Wealth Management LLC bought a new position in Amgen during the 1st quarter worth $28,000. Industrial Alliance Investment Management Inc. bought a new position in Amgen during the 4th quarter worth $31,000. Finally, CKW Financial Group bought a new position in Amgen during the 1st quarter worth $31,000. Institutional investors own 74.53% of the company’s stock.

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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