Amgen (AMGN) to Release Quarterly Earnings on Thursday

Amgen (NASDAQ:AMGN) will issue 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 interested in registering for the company’s conference call can do so using this link.

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

Amgen Trading Down 0.2 %

NASDAQ AMGN opened at $273.01 on Thursday. The firm has a market cap of $146.44 billion, a P/E ratio of 21.86, a P/E/G ratio of 2.53 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The stock’s 50-day moving average is $275.77 and its 200-day moving average is $281.55. Amgen has a one year low of $211.71 and a one year high of $329.72.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $2.25 per share. 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 dividend payout ratio is currently 72.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AMGN shares. Oppenheimer reaffirmed an “outperform” rating and set a $350.00 price target on shares of Amgen in a research report on Thursday, February 1st. Leerink Partnrs downgraded Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. TD Cowen decreased their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Truist Financial reiterated a “buy” rating and set a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. Finally, StockNews.com downgraded Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $296.95.

About Amgen

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.