Zacks: Brokerages Expect Amgen Inc. (AMGN) Will Post Quarterly Sales of $5.73 Billion
Wall Street brokerages forecast that Amgen Inc. (NASDAQ:AMGN) will report $5.73 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Amgen’s earnings, with the lowest sales estimate coming in at $5.64 billion and the highest estimate coming in at $5.85 billion. Amgen posted sales of $5.81 billion in the same quarter last year, which suggests a negative year over year growth rate of 1.4%. The company is expected to issue its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Amgen will report full-year sales of $5.73 billion for the current fiscal year, with estimates ranging from $22.60 billion to $23.03 billion. For the next fiscal year, analysts forecast that the firm will report sales of $23.15 billion per share, with estimates ranging from $22.71 billion to $24.35 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Amgen.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The business had revenue of $5.81 billion for the quarter, compared to the consensus estimate of $5.67 billion. During the same quarter in the previous year, the firm earned $2.84 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis.
AMGN has been the topic of a number of analyst reports. Oppenheimer Holdings, Inc. set a $189.00 price objective on shares of Amgen and gave the stock a “buy” rating in a research note on Tuesday, June 13th. BMO Capital Markets reiterated a “buy” rating and set a $198.00 target price (down previously from $200.00) on shares of Amgen in a research report on Monday, May 22nd. ValuEngine upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Mizuho reiterated a “buy” rating and set a $195.00 target price on shares of Amgen in a research report on Sunday, July 9th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $195.00 target price on shares of Amgen in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $186.04.
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Amgen (AMGN) opened at 180.64 on Friday. The stock has a market cap of $131.81 billion, a P/E ratio of 16.45 and a beta of 1.35. Amgen has a one year low of $133.64 and a one year high of $184.21. The firm’s 50-day moving average is $173.77 and its 200 day moving average is $168.79.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 17th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Tuesday, August 15th. Amgen’s payout ratio is presently 41.93%.
A number of hedge funds have recently bought and sold shares of AMGN. Janus Henderson Group PLC lifted its stake in Amgen by 3,664.7% during the second quarter. Janus Henderson Group PLC now owns 3,699,351 shares of the medical research company’s stock worth $637,139,000 after purchasing an additional 3,601,087 shares during the last quarter. FMR LLC lifted its stake in Amgen by 4.8% during the second quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock worth $9,817,037,000 after purchasing an additional 2,587,041 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Amgen by 40.9% during the second quarter. Renaissance Technologies LLC now owns 3,400,145 shares of the medical research company’s stock worth $585,607,000 after purchasing an additional 986,700 shares during the last quarter. BlackRock Inc. lifted its stake in Amgen by 1.9% during the second quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock worth $8,516,980,000 after purchasing an additional 909,689 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Amgen by 12.9% during the second quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock worth $1,212,602,000 after purchasing an additional 806,119 shares during the last quarter. Hedge funds and other institutional investors own 78.13% of the company’s stock.
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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