Analysts Expect Amgen Inc. (NASDAQ:AMGN) Will Post Quarterly Sales of $6.90 Billion

Brokerages forecast that Amgen Inc. (NASDAQ:AMGN) will announce sales of $6.90 billion for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Amgen’s earnings. The highest sales estimate is $6.98 billion and the lowest is $6.74 billion. Amgen posted sales of $6.63 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.1%. The firm is expected to report its next earnings report on Tuesday, February 1st.

According to Zacks, analysts expect that Amgen will report full year sales of $26.05 billion for the current financial year, with estimates ranging from $25.87 billion to $26.15 billion. For the next financial year, analysts anticipate that the company will report sales of $26.93 billion, with estimates ranging from $26.34 billion to $27.45 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Amgen.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, November 2nd. The medical research company reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.22 by $0.45. Amgen had a return on equity of 108.67% and a net margin of 21.77%. During the same quarter in the prior year, the firm posted $4.37 EPS.

AMGN has been the topic of a number of research analyst reports. Robert W. Baird reaffirmed a “sell” rating on shares of Amgen in a report on Thursday, October 28th. Daiwa Capital Markets downgraded Amgen from an “outperform” rating to a “neutral” rating and set a $220.00 target price on the stock. in a report on Thursday, September 23rd. BMO Capital Markets assumed coverage on Amgen in a research report on Thursday, November 18th. They set a “market perform” rating and a $228.00 price target on the stock. Barclays dropped their price target on Amgen from $230.00 to $228.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 3rd. Finally, SVB Leerink dropped their price target on Amgen from $234.00 to $216.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $235.50.

NASDAQ:AMGN traded down $0.56 during trading hours on Friday, reaching $203.97. 1,699,089 shares of the stock were exchanged, compared to its average volume of 2,617,473. The company has a quick ratio of 1.36, a current ratio of 1.64 and a debt-to-equity ratio of 4.05. The firm has a 50 day simple moving average of $209.99 and a 200-day simple moving average of $227.76. Amgen has a 52 week low of $200.47 and a 52 week high of $276.69. The stock has a market capitalization of $114.89 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.47 and a beta of 0.61.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 8th. Stockholders of record on Tuesday, November 16th will be given a $1.76 dividend. The ex-dividend date is Monday, November 15th. This represents a $7.04 annualized dividend and a dividend yield of 3.45%. Amgen’s dividend payout ratio (DPR) is presently 72.50%.

Several institutional investors have recently modified their holdings of AMGN. Patriot Financial Group Insurance Agency LLC boosted its position in Amgen by 14.5% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 2,844 shares of the medical research company’s stock valued at $605,000 after purchasing an additional 361 shares during the last quarter. Mcdonald Partners LLC boosted its position in Amgen by 1.9% during the third quarter. Mcdonald Partners LLC now owns 20,614 shares of the medical research company’s stock valued at $4,384,000 after purchasing an additional 377 shares during the last quarter. Cambridge Trust Co. boosted its position in Amgen by 1.3% during the third quarter. Cambridge Trust Co. now owns 4,207 shares of the medical research company’s stock valued at $895,000 after purchasing an additional 55 shares during the last quarter. Fortis Advisors LLC acquired a new stake in Amgen during the third quarter valued at $53,000. Finally, EP Wealth Advisors LLC boosted its position in Amgen by 1.6% during the third quarter. EP Wealth Advisors LLC now owns 19,944 shares of the medical research company’s stock valued at $4,241,000 after purchasing an additional 313 shares during the last quarter. 74.95% of the stock is owned by institutional investors and hedge funds.

About Amgen

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.

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Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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