Amgen (AMGN) Set to Announce Quarterly Earnings on Thursday

Amgen (NASDAQ:AMGN - Get Free Report) will release its earnings data after the market closes on Thursday, May 2nd. Analysts expect Amgen to post 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 that wish to register for the company's conference call can do so using this link.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same period in the prior year, the business posted $4.09 earnings per share. The firm's revenue for the quarter was up 19.8% compared to the same quarter last year. On average, analysts expect Amgen to post $19 EPS for the current fiscal year and $21 EPS for the next fiscal year.

Amgen Trading Down 1.3 %

Shares of NASDAQ AMGN traded down $3.63 on Thursday, reaching $269.38. 1,792,738 shares of the company traded hands, compared to its average volume of 2,827,451. The company has a 50 day moving average of $275.38 and a 200 day moving average of $281.46. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. Amgen has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The stock has a market capitalization of $144.49 billion, a PE ratio of 21.57, a P/E/G ratio of 2.55 and a beta of 0.58.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Thursday, May 16th. Amgen's dividend payout ratio is currently 72.06%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group upped their price objective on Amgen from $313.00 to $350.00 and gave the stock a "buy" rating in a report on Wednesday, February 7th. Raymond James began coverage on Amgen in a research note on Thursday, March 28th. They issued a "market perform" rating on the stock. Oppenheimer reissued an "outperform" rating and set a $350.00 target price on shares of Amgen in a research report on Thursday, February 1st. Leerink Partnrs cut shares of Amgen from an "outperform" rating to a "market perform" rating in a research report on Wednesday, February 7th. Finally, Morgan Stanley dropped their price objective on shares of Amgen from $281.00 to $278.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $296.95.

Amgen Company Profile

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.