Amgen Inc. (NASDAQ:AMGN) Expected to Announce Quarterly Sales of $6.90 Billion

Equities research analysts expect that Amgen Inc. (NASDAQ:AMGN) will announce sales of $6.90 billion for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Amgen’s earnings. The lowest sales estimate is $6.74 billion and the highest is $6.98 billion. Amgen reported sales of $6.63 billion during the same quarter last year, which indicates a positive year over year growth rate of 4.1%. The company is scheduled to report its next earnings report on Tuesday, February 1st.

On average, analysts expect that Amgen will report full-year sales of $26.05 billion for the current year, with estimates ranging from $25.87 billion to $26.15 billion. For the next year, analysts forecast that the firm will report sales of $26.93 billion, with estimates ranging from $26.34 billion to $27.45 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Amgen.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, November 2nd. The medical research company reported $4.67 EPS for the quarter, beating 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 previous year, the business posted $4.37 earnings per share.

A number of research analysts have recently issued reports on AMGN shares. Robert W. Baird reissued a “sell” rating on shares of Amgen in a report on Thursday, October 28th. Royal Bank of Canada dropped their price objective on Amgen from $217.00 to $216.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 3rd. 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 research report on Thursday, September 23rd. Oppenheimer reduced their price objective on Amgen from $277.00 to $272.00 and set an “outperform” rating on the stock in a research report on Monday, November 1st. Finally, Morgan Stanley dropped their target price on Amgen from $251.00 to $235.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 12th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $235.50.

Large investors have recently added to or reduced their stakes in the business. Birch Capital Management LLC lifted its holdings in Amgen by 3.4% during the 2nd quarter. Birch Capital Management LLC now owns 21,721 shares of the medical research company’s stock worth $5,295,000 after buying an additional 708 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its holdings in Amgen by 1.0% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 364,468 shares of the medical research company’s stock worth $88,840,000 after buying an additional 3,546 shares during the last quarter. Optiver Holding B.V. bought a new position in Amgen during the 1st quarter worth approximately $5,578,000. Arlington Financial Advisors LLC lifted its holdings in Amgen by 8.3% during the 2nd quarter. Arlington Financial Advisors LLC now owns 25,724 shares of the medical research company’s stock worth $6,270,000 after buying an additional 1,962 shares during the last quarter. Finally, Mather Group LLC. lifted its holdings in Amgen by 25.4% during the 2nd quarter. Mather Group LLC. now owns 5,591 shares of the medical research company’s stock worth $1,363,000 after buying an additional 1,134 shares during the last quarter. 74.95% of the stock is currently owned by institutional investors.

AMGN stock traded down $0.56 during trading on Friday, hitting $203.97. 1,699,089 shares of the company’s stock were exchanged, compared to its average volume of 2,617,473. The business has a 50-day moving average price of $209.99 and a two-hundred day moving average price of $227.76. The stock has a market capitalization of $114.89 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.47 and a beta of 0.61. Amgen has a 52-week low of $200.47 and a 52-week high of $276.69. The company has a current ratio of 1.64, a quick ratio of 1.36 and a debt-to-equity ratio of 4.05.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 8th. Investors of record on Tuesday, November 16th will be issued a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Monday, November 15th. Amgen’s dividend payout ratio is currently 72.50%.

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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