Amgen (AMGN) to Release Quarterly Earnings on Thursday

Amgen (NASDAQ:AMGN) will be issuing its quarterly earnings data after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $3.82 per share for the quarter. Amgen has set its FY24 guidance at $18.90-20.30 EPS and its FY 2024 guidance at 18.900-20.300 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter last year, the firm earned $4.09 EPS. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, analysts expect Amgen to post $19 EPS for the current fiscal year and $21 EPS for the next fiscal year.

Amgen Stock Down 0.2 %

Shares of NASDAQ:AMGN opened at $273.01 on Thursday. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. Amgen has a 12 month low of $211.71 and a 12 month high of $329.72. The company has a 50-day moving average price of $275.77 and a 200 day moving average price of $281.55. The company has a market cap of $146.44 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 2.53 and a beta of 0.58.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is 72.06%.

Analyst Ratings Changes

A number of research analysts recently commented on AMGN shares. The Goldman Sachs Group increased their price target on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Morgan Stanley decreased their price objective on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. StockNews.com downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Raymond James assumed coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating for the company. Finally, UBS Group decreased their price objective on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $296.95.

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.