Zacks Research Has Strong Forecast for Amgen FY2024 Earnings

Amgen Inc. (NASDAQ:AMGN) – Investment analysts at Zacks Research boosted their FY2024 EPS estimates for Amgen in a report issued on Wednesday, November 20th. Zacks Research analyst R. Department now anticipates that the medical research company will earn $19.37 per share for the year, up from their previous estimate of $19.23. The consensus estimate for Amgen’s current full-year earnings is $19.51 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.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating 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 firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the firm posted $4.96 EPS. The company’s revenue was up 23.2% compared to the same quarter last year.

Several other brokerages have also issued reports on AMGN. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and upped their target price for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Finally, Wolfe Research initiated coverage on Amgen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Stock Up 0.7 %

AMGN opened at $289.77 on Friday. 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 business’s fifty day simple moving average is $317.28 and its 200 day simple moving average is $318.02. Amgen has a 52 week low of $260.68 and a 52 week high of $346.85. The stock has a market cap of $155.76 billion, a PE ratio of 37.10, a P/E/G ratio of 2.50 and a beta of 0.60.

Institutional Trading of Amgen

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

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.