Zacks: Brokerages Anticipate Amgen Inc. (NASDAQ:AMGN) to Post $4.31 EPS

Wall Street analysts expect Amgen Inc. (NASDAQ:AMGNGet Rating) to report earnings per share (EPS) of $4.31 for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Amgen’s earnings, with the lowest EPS estimate coming in at $2.97 and the highest estimate coming in at $4.87. Amgen posted earnings per share of $4.38 in the same quarter last year, which would indicate a negative year over year growth rate of 1.6%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Amgen will report full year earnings of $17.49 per share for the current year, with EPS estimates ranging from $16.91 to $17.95. For the next fiscal year, analysts anticipate that the firm will report earnings of $18.98 per share, with EPS estimates ranging from $17.96 to $20.15. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Amgen.

Amgen (NASDAQ:AMGNGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The medical research company reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.10 by $0.15. Amgen had a net margin of 21.75% and a return on equity of 129.38%. During the same quarter in the previous year, the business posted $3.70 earnings per share.

A number of research firms have weighed in on AMGN. Barclays upped their price objective on shares of Amgen from $233.00 to $236.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 12th. Bank of America cut shares of Amgen from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $285.00 to $255.00 in a research report on Wednesday, January 5th. TheStreet cut shares of Amgen from a “b+” rating to a “c+” rating in a research report on Wednesday. Piper Sandler upped their price objective on shares of Amgen from $255.00 to $260.00 in a research report on Thursday. Finally, Oppenheimer upped their price objective on shares of Amgen from $272.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, February 9th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $237.50.

Shares of Amgen stock opened at $233.19 on Friday. The company has a fifty day moving average price of $239.49 and a 200 day moving average price of $225.40. The company has a current ratio of 1.59, a quick ratio of 1.26 and a debt-to-equity ratio of 4.96. Amgen has a twelve month low of $198.64 and a twelve month high of $258.81. The stock has a market cap of $124.47 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 1.48 and a beta of 0.59.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 8th. Stockholders of record on Tuesday, May 17th will be given a dividend of $1.94 per share. The ex-dividend date is Monday, May 16th. This represents a $7.76 annualized dividend and a dividend yield of 3.33%. Amgen’s payout ratio is 76.38%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMGN. Norges Bank acquired a new stake in Amgen during the fourth quarter worth about $1,138,930,000. BlackRock Inc. raised its stake in Amgen by 2.5% during the third quarter. BlackRock Inc. now owns 49,013,416 shares of the medical research company’s stock worth $10,422,702,000 after acquiring an additional 1,188,514 shares during the period. Barclays PLC raised its stake 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 acquiring an additional 984,406 shares during the period. Renaissance Technologies LLC raised its stake 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 worth $247,884,000 after acquiring an additional 950,008 shares during the period. Finally, First Trust Advisors LP raised its stake in Amgen by 125.5% during the fourth quarter. First Trust Advisors LP now owns 1,613,704 shares of the medical research company’s stock worth $363,035,000 after acquiring an additional 898,059 shares during the period. Hedge funds and other 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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