Insights Into Amgen (AMGN) Q1: Wall Street Projections for Key Metrics

Analysts on Wall Street project that Amgen (AMGN) will announce quarterly earnings of $3.76 per share in its forthcoming report, representing a decline of 5.5% year over year. Revenues are projected to reach $7.38 billion, increasing 20.9% from the same quarter last year.

The consensus EPS estimate for the quarter has undergone a downward revision of 0.9% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

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.

In light of this perspective, let's dive into the average estimates of certain Amgen metrics that are commonly tracked and forecasted by Wall Street analysts.

Analysts expect 'Revenue- Other revenues' to come in at $280.78 million. The estimate points to a change of +8.4% from the year-ago quarter.

It is projected by analysts that the 'Revenue- Product sales' will reach $7.12 billion. The estimate suggests a change of +21.8% year over year.

The collective assessment of analysts points to an estimated 'Product Sales- Repatha - Total' of $447.91 million. The estimate suggests a change of +15.4% year over year.

Analysts' assessment points toward 'Product Sales- Vectibix - Total' reaching $240.69 million. The estimate indicates a change of +3.3% from the prior-year quarter.

According to the collective judgment of analysts, 'Product Sales- EPOGEN - US' should come in at $47.52 million. The estimate points to a change of -20.8% from the year-ago quarter.

Analysts predict that the 'Product Sales- LUMAKRAS/LUMYKRAS - ROW' will reach $26.26 million. The estimate indicates a year-over-year change of +1%.

The consensus among analysts is that 'Product Sales- Aranesp - US' will reach $102.53 million. The estimate indicates a year-over-year change of -10.8%.

Analysts forecast 'Product Sales- Aranesp - ROW' to reach $225.41 million. The estimate indicates a year-over-year change of -6.1%.

The consensus estimate for 'Product Sales- ENBREL - US' stands at $593.47 million. The estimate indicates a year-over-year change of +5.2%.

The average prediction of analysts places 'Product Sales- ENBREL - ROW' at $14.22 million. The estimate points to a change of -5.2% from the year-ago quarter.

The combined assessment of analysts suggests that 'Product Sales- Neulasta - US' will likely reach $153.84 million. The estimate suggests a change of -27.1% year over year.

Based on the collective assessment of analysts, 'Product Sales- Aimovig - ROW' should arrive at $5.41 million. The estimate indicates a change of +8.2% from the prior-year quarter.

View all Key Company Metrics for Amgen here>>>

Shares of Amgen have demonstrated returns of -5% over the past month compared to the Zacks S&P 500 composite's -2% change. With a Zacks Rank #3 (Hold), AMGN is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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