Analysts Expect Amgen, Inc. (AMGN) Will Post Earnings of $3.38 Per Share
Wall Street brokerages expect Amgen, Inc. (NASDAQ:AMGN) to announce earnings per share (EPS) of $3.38 for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Amgen’s earnings, with the lowest EPS estimate coming in at $3.12 and the highest estimate coming in at $3.70. Amgen reported earnings per share of $3.27 during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The company is scheduled to issue its next quarterly earnings results on Wednesday, October 24th.
On average, analysts expect that Amgen will report full year earnings of $13.95 per share for the current year, with EPS estimates ranging from $13.62 to $14.37. For the next financial year, analysts forecast that the company will post earnings of $14.40 per share, with EPS estimates ranging from $12.90 to $15.71. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Amgen.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, July 26th. The medical research company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.52 by $0.31. Amgen had a return on equity of 43.18% and a net margin of 10.19%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period last year, the business posted $3.27 EPS. Amgen’s quarterly revenue was up 4.3% on a year-over-year basis.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $195.71, for a total transaction of $298,457.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Kwmg LLC acquired a new stake in shares of Amgen during the 2nd quarter valued at approximately $108,000. Mainstay Capital Management LLC ADV purchased a new position in shares of Amgen during the 2nd quarter worth approximately $111,000. Braun Bostich & Associates Inc. purchased a new stake in Amgen in the 1st quarter worth approximately $113,000. WealthTrust Fairport LLC purchased a new stake in Amgen in the 1st quarter worth approximately $121,000. Finally, Cornerstone Advisors Inc. grew its stake in Amgen by 76.5% in the 1st quarter. Cornerstone Advisors Inc. now owns 729 shares of the medical research company’s stock worth $124,000 after acquiring an additional 316 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.
Shares of AMGN stock opened at $202.93 on Tuesday. Amgen has a 1-year low of $163.31 and a 1-year high of $203.69. The company has a current ratio of 3.39, a quick ratio of 3.12 and a debt-to-equity ratio of 2.03. The firm has a market cap of $129.13 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 1.94 and a beta of 1.39.
The company also recently declared a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Friday, August 17th were paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Thursday, August 16th. Amgen’s dividend payout ratio (DPR) is 41.97%.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
Further Reading: What is a closed-end mutual fund (CEF)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.