Amgen (AMGN) to Release Earnings on Thursday

Amgen (NASDAQ:AMGN) is set to 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.Investors that wish to register for the company’s conference call can do so using this link.

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

Amgen Stock Performance

AMGN stock opened at $273.94 on Wednesday. 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 firm has a market cap of $146.94 billion, a P/E ratio of 21.93, a P/E/G ratio of 2.61 and a beta of 0.58. Amgen has a 12-month low of $211.71 and a 12-month high of $329.72. The stock’s 50 day simple moving average is $274.76 and its 200 day simple moving average is $281.37.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is currently 72.06%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $329.00 target price on shares of Amgen in a research note on Wednesday, April 3rd. The Goldman Sachs Group increased their price target on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Truist Financial reiterated a “buy” rating and issued a $320.00 price target on shares of Amgen in a research report on Friday, April 12th. Finally, TD Cowen reduced their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock 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.