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 per share estimates for Amgen in a report issued on Friday, September 27th. Cantor Fitzgerald analyst O. Brayer anticipates 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.

A number of other equities analysts have also recently commented on AMGN. Argus lifted their price target on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Bank of America boosted their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. TD Cowen boosted their price objective on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Morgan Stanley reduced their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $325.55.

Amgen Trading Down 0.6 %

Amgen stock opened at $320.32 on Monday. Amgen has a 52 week low of $249.70 and a 52 week high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The stock has a market capitalization of $171.83 billion, a P/E ratio of 45.76, a PEG ratio of 2.98 and a beta of 0.61. The stock has a 50-day simple moving average of $328.23 and a 200 day simple moving average of $308.48.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter in the previous year, the business posted $5.00 EPS. The company’s revenue for the quarter was up 20.1% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Aveo Capital Partners LLC increased its holdings in shares of Amgen by 19.9% during the fourth quarter. Aveo Capital Partners LLC now owns 2,729 shares of the medical research company’s stock worth $786,000 after buying an additional 453 shares in the last quarter. Rathbones Group PLC increased its holdings in shares of Amgen by 2.1% during the fourth quarter. Rathbones Group PLC now owns 9,112 shares of the medical research company’s stock worth $2,624,000 after buying an additional 184 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Amgen by 61.2% during the fourth quarter. Jones Financial Companies Lllp now owns 3,084 shares of the medical research company’s stock worth $888,000 after buying an additional 1,171 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in shares of Amgen by 17.7% during the fourth quarter. CWA Asset Management Group LLC now owns 2,747 shares of the medical research company’s stock worth $791,000 after buying an additional 413 shares in the last quarter. Finally, Wellspring Financial Advisors LLC increased its holdings in shares of Amgen by 8.1% during the fourth quarter. Wellspring Financial Advisors LLC now owns 2,705 shares of the medical research company’s stock worth $779,000 after buying an additional 202 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.81%. Amgen’s dividend payout ratio is currently 128.57%.

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.