Amgen Inc. (AMGN) Expected to Announce Quarterly Sales of $5.84 Billion
Wall Street analysts forecast that Amgen Inc. (NASDAQ:AMGN) will announce sales of $5.84 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Amgen’s earnings. The lowest sales estimate is $5.69 billion and the highest is $5.94 billion. Amgen posted sales of $5.97 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 2.2%. The business is scheduled to issue its next earnings report on Thursday, February 1st.
On average, analysts expect that Amgen will report full year sales of $5.84 billion for the current fiscal year, with estimates ranging from $22.60 billion to $23.08 billion. For the next year, analysts anticipate that the business will report sales of $23.15 billion per share, with estimates ranging from $22.44 billion to $24.30 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Amgen.
Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same period in the prior year, the business earned $3.02 earnings per share. Amgen’s quarterly revenue was down .7% on a year-over-year basis.
AMGN has been the topic of several analyst reports. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $203.00 price objective (up from $189.00) on shares of Amgen in a report on Wednesday, July 26th. BMO Capital Markets lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. Mizuho restated a “buy” rating and issued a $198.00 price objective (up from $183.00) on shares of Amgen in a report on Thursday, September 28th. Argus increased their price objective on shares of Amgen from $180.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $174.00 price objective (up from $172.00) on shares of Amgen in a report on Wednesday, July 26th. Thirteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $190.03.
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In related news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction on Monday, October 9th. The shares were sold at an average price of $185.95, for a total transaction of $283,573.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in AMGN. TrimTabs Asset Management LLC lifted its stake in Amgen by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after acquiring an additional 288 shares during the last quarter. Jackson Grant Investment Advisers Inc. lifted its stake in Amgen by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock valued at $104,000 after acquiring an additional 4 shares during the last quarter. American Beacon Advisors Inc. acquired a new stake in Amgen in the first quarter valued at $106,000. Baker Ellis Asset Management LLC acquired a new stake in Amgen in the third quarter valued at $108,000. Finally, Phocas Financial Corp. acquired a new stake in Amgen in the second quarter valued at $110,000. Institutional investors and hedge funds own 78.13% of the company’s stock.
Amgen (NASDAQ AMGN) opened at $173.44 on Friday. Amgen has a twelve month low of $133.64 and a twelve month high of $191.10. The firm has a market cap of $125,902.01, a P/E ratio of 13.79, a P/E/G ratio of 2.52 and a beta of 1.37. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05.
Amgen declared that its Board of Directors has approved a stock buyback program on Wednesday, October 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, November 16th. Amgen’s payout ratio is 41.63%.
Amgen Company Profile
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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