Earnings Report: Here’s what to expect from Amgen (NASDAQ:AMGN)

Earnings results for Amgen (NASDAQ:AMGN)

Amgen Inc. is expected* to report earnings on 10/28/2020 after market close. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 11 analysts’ forecasts, the consensus EPS forecast for the quarter is $3.75. The reported EPS for the same quarter last year was $3.66.

Amgen last released its quarterly earnings data on July 28th, 2020. The medical research company reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $3.81 by $0.44. The firm earned $6.21 billion during the quarter, compared to the consensus estimate of $6.19 billion. Its revenue was up 5.7% compared to the same quarter last year. Amgen has generated $14.82 earnings per share over the last year and currently has a price-to-earnings ratio of 18.3. Amgen has confirmed that its next quarterly earnings report will be published on Wednesday, October 28th, 2020.

Analyst Opinion on Amgen (NASDAQ:AMGN)

28 Wall Street analysts have issued ratings and price targets for Amgen in the last 12 months. Their average twelve-month price target is $255.24, predicting that the stock has a possible upside of 14.22%. The high price target for AMGN is $300.00 and the low price target for AMGN is $185.00. There are currently 1 sell rating, 12 hold ratings and 15 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Amgen has received a consensus rating of Buy. The company’s average rating score is 2.50, and is based on 15 buy ratings, 12 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $255.24, Amgen has a forecasted upside of 14.2% from its current price of $223.46. Amgen has been the subject of 10 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Amgen (NASDAQ:AMGN)

Amgen pays a meaningful dividend of 2.85%, higher than the bottom 25% of all stocks that pay dividends. Amgen does not have a long track record of dividend growth. The dividend payout ratio of Amgen is 43.18%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Amgen will have a dividend payout ratio of 38.74% next year. This indicates that Amgen will be able to sustain or increase its dividend.

Insiders buying/selling: Amgen (NASDAQ:AMGN)

In the past three months, Amgen insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $301,758.00 in company stock. Only 0.36% of the stock of Amgen is held by insiders. 75.23% of the stock of Amgen is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Amgen (NASDAQ:AMGN

Earnings for Amgen are expected to grow by 5.56% in the coming year, from $15.65 to $16.52 per share. The P/E ratio of Amgen is 18.26, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 19.17. The P/E ratio of Amgen is 18.26, which means that it is trading at a less expensive P/E ratio than the Medical sector average P/E ratio of about 28.94. Amgen has a PEG Ratio of 2.01. PEG Ratios above 1 indicate that a company could be overvalued. Amgen has a P/B Ratio of 13.73. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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