Amgen Inc. (NASDAQ:AMGN) to Post FY2024 Earnings of $19.48 Per Share, Cantor Fitzgerald Forecasts

Amgen Inc. (NASDAQ:AMGN) – Investment analysts at Cantor Fitzgerald issued their FY2024 earnings estimates for Amgen in a report issued on Friday, September 27th. Cantor Fitzgerald analyst O. Brayer expects that the medical research company will post earnings of $19.48 per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $405.00 price target on the stock. The consensus estimate for Amgen’s current full-year earnings is $19.49 per share.

Other analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Morgan Stanley cut their price target 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. Finally, Robert W. Baird reissued an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.55.

Amgen Stock Performance

Shares of AMGN opened at $320.32 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The stock has a market capitalization of $171.83 billion, a P/E ratio of 45.76, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. The firm’s fifty day simple moving average is $328.23 and its two-hundred day simple moving average is $308.48. Amgen has a 12 month low of $249.70 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same period in the prior year, the firm earned $5.00 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year.

Amgen Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.81%. Amgen’s dividend payout ratio is presently 128.57%.

Institutional Investors Weigh In On Amgen

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Strategic Financial Concepts LLC purchased a new stake in Amgen in the 2nd quarter valued at about $26,000. Horizon Financial Services LLC purchased a new stake in Amgen in the 1st quarter valued at about $28,000. Hershey Financial Advisers LLC purchased a new stake in Amgen in the 2nd quarter valued at about $30,000. nVerses Capital LLC purchased a new stake in Amgen in the 2nd quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in Amgen in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

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.