FY2024 Earnings Estimate for Amgen Issued By Zacks Research

Amgen Inc. (NASDAQ:AMGN) – Equities researchers at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for Amgen in a research report issued on Wednesday, November 20th. Zacks Research analyst R. Department now expects that the medical research company will post earnings of $19.37 per share for the year, up from their previous forecast of $19.23. The consensus estimate for Amgen’s current full-year earnings is $19.52 per share. Zacks Research also issued estimates for Amgen’s Q1 2025 earnings at $4.57 EPS, Q2 2025 earnings at $5.03 EPS, Q4 2025 earnings at $5.26 EPS, FY2025 earnings at $20.08 EPS, Q1 2026 earnings at $4.69 EPS and Q2 2026 earnings at $5.14 EPS.

A number of other analysts also recently issued reports on AMGN. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Citigroup began coverage on Amgen in a research note on Thursday, November 14th. They set a “neutral” rating and a $335.00 price target for the company. Bank of America upped their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wolfe Research began coverage on Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen Price Performance

AMGN stock opened at $294.53 on Friday. The firm has a 50 day simple moving average of $316.52 and a two-hundred day simple moving average of $318.11. The stock has a market cap of $158.32 billion, a PE ratio of 37.71, a P/E/G ratio of 2.59 and a beta of 0.60. Amgen has a one year low of $260.68 and a one year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.96 earnings per share.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.06%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Institutional Trading of Amgen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co raised its stake in Amgen by 2.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 49,931 shares of the medical research company’s stock worth $14,241,000 after buying an additional 1,311 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Amgen by 5.3% during the first quarter. Gamco Investors INC. ET AL now owns 5,431 shares of the medical research company’s stock valued at $1,544,000 after purchasing an additional 271 shares in the last quarter. Lazard Asset Management LLC grew its stake in Amgen by 4.4% in the first quarter. Lazard Asset Management LLC now owns 31,841 shares of the medical research company’s stock worth $9,051,000 after purchasing an additional 1,353 shares during the period. Steel Grove Capital Advisors LLC lifted its position in Amgen by 30.5% during the first quarter. Steel Grove Capital Advisors LLC now owns 1,283 shares of the medical research company’s stock valued at $365,000 after buying an additional 300 shares during the period. Finally, Kestra Advisory Services LLC lifted its position in Amgen by 25.6% during the first quarter. Kestra Advisory Services LLC now owns 80,582 shares of the medical research company’s stock valued at $22,911,000 after buying an additional 16,407 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

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.