Amgen (NASDAQ:AMGN – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 19.200-20.000 for the period, compared to the consensus estimate of 19.490. The company issued revenue guidance of $33.0 billion-$33.8 billion, compared to the consensus revenue estimate of $33.2 billion. Amgen also updated its FY24 guidance to $19.20-$20.00 EPS.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on AMGN. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Bank of America raised their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Sanford C. Bernstein initiated coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Finally, Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and a consensus price target of $332.55.
Get Our Latest Stock Report on Amgen
Amgen Price Performance
Amgen (NASDAQ:AMGN – Get Free Report) last announced 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). The business had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. Amgen’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.00 earnings per share. Equities research analysts forecast that Amgen will post 19.49 earnings per share for the current fiscal year.
Amgen Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is 128.57%.
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.
Read More
- Five stocks we like better than Amgen
- What is the Dow Jones Industrial Average (DJIA)?
- Boeing: Why Analysts Think Now’s The Time To Be Brave
- Retail Stocks Investing, Explained
- Advanced Micro Devices is Building Momentum with AI: Buy the Dip
- What is the S&P/TSX Index?
- Can Evolv Stock Recover From Its Massive Self-Inflicted Drop?
Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.