Amgen (AMGN) Updates FY18 Earnings Guidance

Amgen (NASDAQ:AMGN) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share guidance of $14.00-14.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $14.03. The company issued revenue guidance of $23.2-23.5 billion, compared to the consensus revenue estimate of $23.20 billion.Amgen also updated its FY 2018 guidance to $14.00-14.25 EPS.

A number of brokerages have recently weighed in on AMGN. Mizuho reaffirmed a buy rating and issued a $206.00 price target on shares of Amgen in a research note on Friday. JPMorgan Chase & Co. reaffirmed a neutral rating on shares of Amgen in a research note on Thursday, October 25th. Goldman Sachs Group reaffirmed a buy rating and issued a $229.00 price target on shares of Amgen in a research note on Friday, October 12th. Morgan Stanley upped their price target on shares of Amgen from $210.00 to $212.00 and gave the stock an overweight rating in a research note on Thursday, October 11th. Finally, Cantor Fitzgerald set a $223.00 price target on shares of Amgen and gave the stock a neutral rating in a research note on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $205.16.

Shares of NASDAQ AMGN traded up $0.89 during midday trading on Tuesday, reaching $189.08. The company’s stock had a trading volume of 3,152,338 shares, compared to its average volume of 3,553,815. The company has a debt-to-equity ratio of 2.03, a current ratio of 3.39 and a quick ratio of 3.12. Amgen has a one year low of $163.31 and a one year high of $210.19. The company has a market capitalization of $120.38 billion, a P/E ratio of 15.03, a PEG ratio of 1.80 and a beta of 1.40.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, October 30th. The medical research company reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.24. Amgen had a net margin of 10.19% and a return on equity of 43.18%. The business had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.78 billion. During the same period in the previous year, the firm earned $3.27 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts anticipate that Amgen will post 14.02 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be issued a $1.32 dividend. The ex-dividend date is Thursday, November 15th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.79%. Amgen’s payout ratio is currently 41.97%.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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