Q3 2024 Earnings Forecast for Amgen Inc. Issued By Zacks Research (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGN) – Equities researchers at Zacks Research reduced their Q3 2024 earnings estimates for shares of Amgen in a research report issued on Tuesday, August 27th. Zacks Research analyst R. Department now forecasts that the medical research company will post earnings of $4.83 per share for the quarter, down from their previous estimate of $5.09. The consensus estimate for Amgen’s current full-year earnings is $19.50 per share. Zacks Research also issued estimates for Amgen’s Q4 2024 earnings at $5.40 EPS, FY2024 earnings at $19.16 EPS, Q1 2025 earnings at $4.79 EPS, Q3 2025 earnings at $5.18 EPS, Q4 2025 earnings at $5.43 EPS, Q1 2026 earnings at $4.86 EPS, Q2 2026 earnings at $5.23 EPS and FY2026 earnings at $20.80 EPS.

A number of other analysts have also issued reports on AMGN. William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Morgan Stanley dropped their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Argus increased their price target on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Bank of America boosted their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, TD Cowen raised their price objective on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $326.89.

Amgen Stock Up 0.5 %

Amgen stock opened at $331.01 on Thursday. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. Amgen has a fifty-two week low of $248.38 and a fifty-two week high of $346.85. The firm has a fifty day moving average price of $324.06 and a two-hundred day moving average price of $300.22. The firm has a market cap of $177.57 billion, a price-to-earnings ratio of 47.29, a P/E/G ratio of 2.78 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period in the previous year, the firm posted $5.00 EPS. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis.

Institutional Investors Weigh In On Amgen

Large investors have recently made changes to their positions in the stock. Hershey Financial Advisers LLC bought a new stake in shares of Amgen during the second quarter worth $30,000. United Community Bank bought a new stake in shares of Amgen during the fourth quarter worth $29,000. Horizon Financial Services LLC bought a new stake in shares of Amgen during the first quarter worth $28,000. nVerses Capital LLC bought a new stake in shares of Amgen during the second quarter worth $31,000. Finally, Delos Wealth Advisors LLC increased its position in shares of Amgen by 2,500.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.72%. Amgen’s dividend payout ratio is currently 128.57%.

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.