S&P 500 (NYSE:SPY) component Amgen, Inc. (NASDAQ:AMGN) will unveil its latest earnings on Friday, July 29, 2011. Amgen Inc. is a biotechnology medicines company that discovers, develops, manufactures and markets medicines for grave illnesses.
Amgen, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of $1.30 per share, a decline of 3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $1.29. Between one and three months ago, the average estimate was unchanged, but has risen during the last month. For the year, analysts are projecting profit of $5.05 per share, a decline of 1.4% from last year.
Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 3 cents, reporting net income of $1.32 per share against a mean estimate of profit of $1.29 per share.
Wall St. Revenue Expectations: On average, analysts predict $3.78 billion in revenue this quarter, a decline of 0.5% from the year ago quarter. Analysts are forecasting total revenue of $15.25 billion for the year, a rise of 1.3% from last year’s revenue of $15.05 billion.
Analyst Ratings: Analysts are bullish on this stock with 24 analysts rating it as a buy, one rating it as a sell and eight rating it as a hold.
Revenue has risen the past four quarters. Revenue increased 3.2% to $3.71 billion in first quarter. The figure rose 0.8% in the fourth quarter of the last fiscal year from the year earlier, climbed 0.1% in the third quarter of the last fiscal year from the year-ago quarter and 2.5% in the second quarter of the last fiscal year.
The decrease in profit in the first quarter comes after net income rose in the previous quarter. In the first quarter, net income fell 3.6% to $1.13 billion. In the fourth quarter of the last fiscal year, net income rose 9.8%.
Competitors to Watch: Johnson & Johnson (NYSE:JNJ), Pfizer Inc. (NYSE:PFE), Biogen Idec Inc. (NASDAQ:BIIB), GlaxoSmithKline plc (NYSE:GSK), Affymax, Inc. (NASDAQ:AFFY), Genzyme Corporation (NASDAQ:GENZ), Novartis AG (NYSE:NVS), 3SBio Inc. (NASDAQ:SSRX), and NPS Pharmaceuticals, Inc. (NASDAQ:NPSP).
Stock Price Performance: During May 26, 2011 to July 25, 2011, the stock price had fallen $4.86 (-8.1%) from $59.76 to $54.90. The stock price saw one of its best stretches over the last year between May 5, 2011 and May 13, 2011 when shares rose for seven-straight days, rising 5.3% (+$3.05) over that span. It saw one of its worst periods between November 1, 2010 and November 12, 2010 when shares fell for 10-straight days, falling 5.2% (-$2.96) over that span. Shares unchanged year to date.
(Source: Xignite Financials)