Zacks Research Issues Negative Outlook for Amgen Earnings

Amgen Inc. (NASDAQ:AMGN) – Zacks Research reduced their Q4 2024 earnings estimates for shares of Amgen in a research note issued on Wednesday, November 20th. Zacks Research analyst R. Department now anticipates that the medical research company will earn $4.86 per share for the quarter, down from their prior forecast of $5.40. The consensus estimate for Amgen’s current full-year earnings is $19.52 per share. Zacks Research also issued estimates for Amgen’s Q3 2025 earnings at $5.22 EPS and Q3 2026 earnings at $5.44 EPS.

A number of other brokerages have also recently weighed in on AMGN. Citigroup initiated coverage on Amgen in a report on Thursday, November 14th. They issued a “neutral” rating and a $335.00 target price on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Bank of America increased their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Wolfe Research started coverage on shares of Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $333.57.

Amgen Stock Down 4.8 %

Shares of NASDAQ AMGN opened at $280.01 on Monday. The stock has a market capitalization of $150.51 billion, a PE ratio of 35.85, a P/E/G ratio of 2.63 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The firm has a fifty day moving average of $314.64 and a 200-day moving average of $317.84. Amgen has a 52-week low of $257.80 and a 52-week high of $346.85.

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

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.21%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Institutional Trading of Amgen

Institutional investors have recently added to or reduced their stakes in the stock. Keynote Financial Services LLC raised its stake in shares of Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after purchasing an additional 30 shares in the last quarter. Ascent Group LLC increased its holdings in Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after buying an additional 31 shares during the last quarter. Hofer & Associates. Inc raised its stake in Amgen by 0.5% during the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after buying an additional 32 shares in the last quarter. Cadinha & Co. LLC lifted its holdings in Amgen by 0.6% during the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after buying an additional 32 shares during the last quarter. Finally, Lansing Street Advisors grew its position in shares of Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after acquiring an additional 32 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

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.