Amgen Inc. (AMGN) Expected to Announce Earnings of $3.09 Per Share
Analysts expect Amgen Inc. (NASDAQ:AMGN) to report earnings per share (EPS) of $3.09 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Amgen’s earnings, with the lowest EPS estimate coming in at $3.01 and the highest estimate coming in at $3.19. Amgen posted earnings of $2.84 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 8.8%. The company is expected to issue its next quarterly earnings results on Wednesday, July 26th.
According to Zacks, analysts expect that Amgen will report full year earnings of $12.39 per share for the current year, with EPS estimates ranging from $12.07 to $12.81. For the next fiscal year, analysts anticipate that the company will report earnings of $12.57 per share, with EPS estimates ranging from $11.90 to $13.13. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Amgen.
Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, April 26th. The medical research company reported $3.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.00 by $0.15. Amgen had a return on equity of 29.37% and a net margin of 34.42%. The firm had revenue of $5.46 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same quarter last year, the firm earned $2.90 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year.
A number of equities research analysts recently issued reports on the stock. Vetr cut shares of Amgen from a “buy” rating to a “hold” rating and set a $179.46 price objective for the company. in a report on Monday, February 27th. Goldman Sachs Group, Inc. (The) decreased their price objective on shares of Amgen from $208.00 to $202.00 and set a “conviction-buy” rating for the company in a report on Monday, March 20th. Jefferies Group LLC reiterated a “hold” rating and issued a $180.00 price objective on shares of Amgen in a report on Monday, May 22nd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $175.00 price objective on shares of Amgen in a report on Wednesday, February 22nd. Finally, Cann reiterated a “positive” rating and issued a $189.00 price objective on shares of Amgen in a report on Wednesday, March 15th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $185.49.
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In other news, SVP Cynthia M. Patton sold 2,922 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $154.40, for a total transaction of $451,156.80. Following the completion of the sale, the senior vice president now owns 24,214 shares of the company’s stock, valued at $3,738,641.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of AMGN. Price T Rowe Associates Inc. MD raised its stake in Amgen by 9.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 2,978,125 shares of the medical research company’s stock valued at $496,781,000 after buying an additional 256,691 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Amgen during the third quarter valued at $33,136,000. Whalerock Point Partners LLC purchased a new stake in Amgen during the third quarter valued at $1,018,000. Ashburton Jersey Ltd purchased a new stake in Amgen during the third quarter valued at $752,000. Finally, TrueNorth Inc. purchased a new stake in Amgen during the third quarter valued at $1,032,000. 78.86% of the stock is owned by institutional investors.
Shares of Amgen (NASDAQ AMGN) traded up 0.41% on Wednesday, reaching $165.10. The company had a trading volume of 2,594,842 shares. Amgen has a 52-week low of $133.64 and a 52-week high of $184.21. The company has a 50 day moving average price of $160.18 and a 200 day moving average price of $160.69. The stock has a market capitalization of $121.41 billion, a PE ratio of 15.68 and a beta of 1.37.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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