Amgen (AMGN) Expected to Announce Quarterly Earnings on Tuesday

Amgen (NASDAQ:AMGN - Get Free Report) is anticipated to release its earnings data after the market closes on Tuesday, February 4th. Analysts expect Amgen to post earnings of $5.04 per share and revenue of $8.86 billion for the quarter. Amgen has set its FY24 guidance at $19.20-$20.00 EPS and its FY 2024 guidance at 19.200-20.000 EPS.Persons that wish to register for the company's earnings conference call can do so using this link.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the firm earned $4.96 earnings per share. Amgen's revenue for the quarter was up 23.2% on a year-over-year basis. On average, analysts expect Amgen to post $20 EPS for the current fiscal year and $20 EPS for the next fiscal year.

Amgen Trading Down 0.9 %

AMGN stock traded down $2.65 during midday trading on Tuesday, hitting $280.30. The company had a trading volume of 2,735,282 shares, compared to its average volume of 3,085,764. The stock's 50 day moving average price is $271.47 and its 200 day moving average price is $305.51. Amgen has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a market cap of $150.67 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 2.78 and a beta of 0.56.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $2.38 dividend. This is a boost from Amgen's previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.40%. Amgen's payout ratio is presently 115.24%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. UBS Group reduced their price target on Amgen from $335.00 to $326.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company decreased their target price on Amgen from $335.00 to $280.00 and set an "equal weight" rating for the company in a research report on Friday, January 10th. Redburn Partners cut their price objective on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Piper Sandler lowered their price target on Amgen from $344.00 to $310.00 and set an "overweight" rating on the stock in a report on Thursday, January 2nd. Finally, Bank of America reiterated an "underperform" rating and set a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $314.00.

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.