AMGEN Inc. (NASDAQ:AMGN) shares, rose in value, with the stock price up by 0.69% to the previous day’s close as strong demand from buyers drove the stock to $269.95.
Actively observing the price movement in the last trading, the stock closed the session at $268.09. The value of beta (5-year monthly) was 0.60 whereas the PE ratio was 21.62 over 12-month period. Referring to stock’s 52-week performance, its high was $329.72, and the low was $211.71. On the whole, AMGN has fluctuated by -2.40% over the past month.
With the market capitalization of AMGEN Inc. currently standing at about $144.67 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2024. The company’s Forward Dividend Ratio is 8.64, with its dividend yield at 3.20%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $3.97, which is expected to increase to $5.62 for fiscal year $19.56 and then to about $21.16 by fiscal year 2025. Data indicates that the EPS growth is expected to be 4.90% in 2025, while the next year’s EPS growth is forecast to be 8.20%.
Analysts have estimated the company’s revenue for the quarter at $7.52 billion, with a low estimate of $7.3 billion and a high estimate of $8.19 billion. According to the average forecast, sales growth in current quarter could jump up 23.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $33.03 billion, representing an increase of 17.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that AMGN’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a Hold.
The stock’s technical analysis shows that the PEG ratio is about 4.22, with the price of AMGN currently trading nearly -2.17% and -6.10% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 38.61, while the 7-day volatility ratio is showing 2.39% which for the 30-day chart, stands at 1.88%. Furthermore, AMGEN Inc. (AMGN)’s beta value is 0.60, and its average true range (ATR) is 5.66.
A comparison of AMGEN Inc. (AMGN) with its peers suggests the former has fared considerably weaker in the market. AMGN showed an intraday change of 0.69% in last session, and over the past year, it grew by 9.06%%.
Data on historical trading for AMGEN Inc. (NASDAQ:AMGN) indicates that the trading volumes over the past 10 days have averaged 2.38 million and over the past 3 months, they’ve averaged 2.97 million. According to company’s latest data on outstanding shares, there are 535.40 million shares outstanding.
Nearly 0.24% of AMGEN Inc.’s shares belong to company insiders and institutional investors own 78.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 11.11 million shares as on Mar 15, 2024, resulting in a short ratio of 3.52. According to the data, the short interest in AMGEN Inc. (AMGN) stood at 2.07% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 11.09 million. The stock has fallen by -6.27% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AMGN stock heading into the next quarter.
