Amgen (AMGN) Expected to Announce Earnings on Tuesday

Amgen (NASDAQ:AMGN) is projected to post its quarterly earnings results after the market closes on Tuesday, February 4th. Analysts expect the company to announce earnings of $5.04 per share and revenue of $8,864,575.75 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 interested in listening to the company’s earnings conference call can do so using this link.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period last year, the company earned $4.96 earnings per share. Amgen’s revenue 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 Up 2.7 %

AMGN stock opened at $282.95 on Tuesday. Amgen has a twelve month low of $253.30 and a twelve month high of $346.85. The stock has a market capitalization of $152.09 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. 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’s fifty day simple moving average is $271.39 and its two-hundred day simple moving average is $305.81.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.36%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is presently 115.24%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMGN. TD Cowen boosted their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Barclays increased their target price on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Leerink Partners cut their price target on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Finally, Citigroup decreased their price objective on shares of Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $314.65.

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.