In its upcoming report, Amgen (AMGN) is predicted by Wall Street analysts to post quarterly earnings of $4.74 per share, reflecting a decline of 10.7% compared to the same period last year. Revenues are forecasted to be $9.46 billion, representing a year-over-year increase of 4.2%.
The current level reflects an upward revision of 0.1% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Bearing this in mind, let's now explore the average estimates of specific Amgen metrics that are commonly monitored and projected by Wall Street analysts.
Analysts predict that the 'Revenue- Other revenues' will reach $402.12 million. The estimate indicates a change of +8.7% from the prior-year quarter.
According to the collective judgment of analysts, 'Revenue- Product sales' should come in at $9.04 billion. The estimate indicates a change of +3.7% from the prior-year quarter.
Analysts' assessment points toward 'Product Sales- Vectibix- Total' reaching $279.69 million. The estimate indicates a change of +13.7% from the prior-year quarter.
The average prediction of analysts places 'Product Sales- Enbrel- Total' at $649.46 million. The estimate indicates a year-over-year change of -36%.
The consensus estimate for 'Product Sales- Neulasta- U.S.' stands at $56.02 million. The estimate points to a change of -22.2% from the year-ago quarter.
It is projected by analysts that the 'Product Sales- Neulasta- ROW' will reach $19.40 million. The estimate indicates a year-over-year change of -25.4%.
The consensus among analysts is that 'Product Sales- BLINCYTO- ROW' will reach $152.62 million. The estimate points to a change of +12.2% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Product Sales- Repatha- U.S.' of $442.32 million. The estimate points to a change of +40.4% from the year-ago quarter.
Based on the collective assessment of analysts, 'Product Sales- Repatha- ROW' should arrive at $360.19 million. The estimate indicates a year-over-year change of +23.8%.
Analysts expect 'Product Sales- BLINCYTO- U.S.' to come in at $287.58 million. The estimate points to a change of +17.4% from the year-ago quarter.
Analysts forecast 'Product Sales- KYPROLIS- U.S.' to reach $228.82 million. The estimate suggests a change of -3% year over year.
The combined assessment of analysts suggests that 'Product Sales- KYPROLIS- ROW' will likely reach $130.37 million. The estimate suggests a change of -4.1% year over year.
View all Key Company Metrics for Amgen here>>>
Amgen shares have witnessed a change of +4.6% in the past month, in contrast to the Zacks S&P 500 composite's +0.8% move. With a Zacks Rank #3 (Hold), AMGN is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Amgen Inc. (AMGN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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