Amgen (AMGN) Expected to Post Earnings of $3.47 Per Share
Wall Street brokerages expect Amgen (NASDAQ:AMGN) to post earnings of $3.47 per share for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Amgen’s earnings, with the lowest EPS estimate coming in at $3.01 and the highest estimate coming in at $3.66. Amgen posted earnings per share of $3.27 during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.1%. The company is expected to announce its next earnings report on Tuesday, July 24th.
According to Zacks, analysts expect that Amgen will report full year earnings of $13.64 per share for the current fiscal year, with EPS estimates ranging from $12.88 to $14.62. For the next financial year, analysts expect that the business will post earnings of $14.05 per share, with EPS estimates ranging from $12.85 to $14.81. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Amgen.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, April 24th. The medical research company reported $3.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $0.23. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.44 billion. Amgen had a return on equity of 35.80% and a net margin of 9.67%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.15 earnings per share.
Shares of NASDAQ AMGN opened at $177.46 on Wednesday. The company has a debt-to-equity ratio of 2.14, a current ratio of 3.88 and a quick ratio of 5.17. The company has a market cap of $116,043.38, a PE ratio of 13.60, a price-to-earnings-growth ratio of 2.05 and a beta of 1.36. Amgen has a 12-month low of $152.16 and a 12-month high of $201.23.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be given a $1.32 dividend. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a yield of 2.98%. Amgen’s dividend payout ratio (DPR) is 41.97%.
Amgen announced that its board has authorized a share repurchase program on Thursday, February 1st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the medical research company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Thursday, April 12th. The stock was sold at an average price of $172.68, for a total value of $263,337.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 4,575 shares of company stock valued at $818,330 over the last 90 days. 0.19% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its holdings in shares of Amgen by 3,664.7% in the second quarter. Janus Henderson Group PLC now owns 3,699,351 shares of the medical research company’s stock valued at $637,139,000 after buying an additional 3,601,087 shares in the last quarter. FMR LLC increased its holdings in shares of Amgen by 4.8% in the second quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock valued at $9,817,037,000 after buying an additional 2,587,041 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Amgen by 382.3% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,389,775 shares of the medical research company’s stock valued at $241,682,000 after buying an additional 1,101,649 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Amgen by 40.9% in the second quarter. Renaissance Technologies LLC now owns 3,400,145 shares of the medical research company’s stock valued at $585,607,000 after buying an additional 986,700 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Amgen by 12.9% in the second quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock valued at $1,212,602,000 after buying an additional 806,119 shares in the last quarter. Hedge funds and other institutional investors own 85.76% of the company’s stock.
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.
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