Amgen Earns A Credit Rating (AMGN)
Amgen (NASDAQ:AMGN) has received an “A” credit rating from analysts at Morningstar. The agency’s “A” rating indicates that the company is a low default risk. They also issued a neutral credit outlook for the company and gave their stock a three star rating.
Several other analysts have also recently commented on the stock. Analysts at Argus reiterated a “buy” rating on shares of Amgen in a research note on Monday, August 4th. They now have a $140.00 price target on the stock, up previously from $135.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Amgen in a research note on Thursday, July 31st. They now have a $137.00 price target on the stock. Finally, analysts at Leerink Swann raised their price target on shares of Amgen from $135.00 to $140.00 in a research note on Thursday, July 31st. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Amgen has a consensus rating of “Buy” and an average target price of $140.00.
Shares of Amgen (NASDAQ:AMGN) opened at 139.38 on Tuesday. Amgen has a 52 week low of $105.76 and a 52 week high of $139.73. The stock’s 50-day moving average is $127.1 and its 200-day moving average is $120.8. The company has a market cap of $105.9 billion and a P/E ratio of 21.24. Amgen also was the recipient of a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 10,819,524 shares, a growth of 13.4% from the July 31st total of 9,538,010 shares. Based on an average daily trading volume, of 3,700,441 shares, the short-interest ratio is presently 2.9 days. Currently, 1.4% of the shares of the stock are short sold.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $2.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.07 by $0.30. The company had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter last year, the company posted $1.89 earnings per share. Amgen’s revenue was up 10.7% compared to the same quarter last year. Analysts expect that Amgen will post $8.40 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 5th. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Tuesday, August 12th.
Amgen Inc is a global biotechnology pioneer that discovers, develops, manufactures and delivers human therapeutics.
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