Amgen (AMGN) Scheduled to Post Earnings on Thursday

Amgen (NASDAQ:AMGN) is set to announce its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $3.82 per share for the quarter. Amgen has set its FY24 guidance at $18.90-20.30 EPS and its FY 2024 guidance at 18.900-20.300 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same period last year, the business earned $4.09 earnings per share. The business’s quarterly revenue was up 19.8% on a year-over-year basis. On average, analysts expect Amgen to post $19 EPS for the current fiscal year and $21 EPS for the next fiscal year.

Amgen Stock Up 2.4 %

Shares of NASDAQ:AMGN opened at $276.38 on Tuesday. Amgen has a 12-month low of $211.71 and a 12-month high of $329.72. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The stock’s 50-day moving average price is $274.96 and its 200-day moving average price is $281.45. The stock has a market capitalization of $148.24 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 2.61 and a beta of 0.58.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.26%. Amgen’s payout ratio is currently 72.06%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMGN. TD Cowen cut their target price on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. SVB Leerink downgraded Amgen from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $324.00 to $318.00 in a research note on Wednesday, February 7th. Raymond James assumed coverage on Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating for the company. StockNews.com downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research report on Thursday, March 28th. Finally, Morgan Stanley reduced their price target on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $297.40.

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.