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Unlocking Q4 Potential of Amgen (AMGN): Exploring Wall Street Estimates for Key Metrics

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Analysts on Wall Street project that Amgen (AMGN - Free Report) will announce quarterly earnings of $4.69 per share in its forthcoming report, representing an increase of 14.7% year over year. Revenues are projected to reach $8.12 billion, increasing 18.7% from the same quarter last year.

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

Given this perspective, it's time to examine the average forecasts of specific Amgen metrics that are routinely monitored and predicted by Wall Street analysts.

The average prediction of analysts places 'Revenue- Other revenues' at $343.30 million. The estimate indicates a year-over-year change of +19.6%.

Analysts forecast 'Revenue- Product sales' to reach $7.79 billion. The estimate suggests a change of +18.9% year over year.

Analysts predict that the 'Product Sales- BLINCYTO - Total' will reach $227.25 million. The estimate indicates a change of +38.6% from the prior-year quarter.

Analysts' assessment points toward 'Product Sales- Kyprolis - Total' reaching $362.07 million. The estimate indicates a change of +11.4% from the prior-year quarter.

It is projected by analysts that the 'Product Sales- EPOGEN - US' will reach $52.80 million. The estimate suggests a change of -53.7% year over year.

The collective assessment of analysts points to an estimated 'Product Sales- Aranesp - US' of $114.21 million. The estimate suggests a change of -7.9% year over year.

Analysts expect 'Product Sales- Otezla - US' to come in at $500.82 million. The estimate suggests a change of -3.7% year over year.

According to the collective judgment of analysts, 'Product Sales- Otezla - ROW' should come in at $106.80 million. The estimate indicates a year-over-year change of +11.3%.

The consensus among analysts is that 'Product Sales- Neulasta - ROW' will reach $31.12 million. The estimate suggests a change of -8.5% year over year.

Based on the collective assessment of analysts, 'Product Sales- Neulasta - US' should arrive at $128.60 million. The estimate indicates a change of -31.2% from the prior-year quarter.

The combined assessment of analysts suggests that 'Product Sales- LUMAKRAS/LUMYKRAS - US' will likely reach $66.01 million. The estimate indicates a year-over-year change of +6.5%.

The consensus estimate for 'Product Sales- ENBREL - US' stands at $1.04 billion. The estimate indicates a change of -5.1% from the prior-year quarter.

View all Key Company Metrics for Amgen here>>>

Over the past month, shares of Amgen have returned +4.5% versus the Zacks S&P 500 composite's +1.6% change. Currently, AMGN carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


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