NEW YORK (TheStreet) -- Amgen (AMGN) - Get Report stock is sliding by 0.47% to $161.22 in early afternoon trading on Wednesday, before the company reports its 2015 third quarter financial results after the market close today.
Analysts are expecting the company to post a year over year rise in both earnings per share and revenue for the most recent quarter.
Amgen has been forecast to report earnings of $2.38 per share on revenue of $5.33 billion by analysts surveyed by Thomson Reuters.
Last year, the company reported earnings of $2.30 per share on revenue of $5.03 billion for the 2014 third quarter.
Amgen is a biotechnology company based in Thousand Oaks, CA.
Separately, TheStreet Ratings team rates AMGEN INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
We rate AMGEN INC (AMGN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, growth in earnings per share, increase in net income, revenue growth and reasonable valuation levels. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- The stock has risen over the past year as investors have generally rewarded the company for its earnings growth and other positive factors like the ones we have cited in this report. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
- AMGEN INC has improved earnings per share by 7.0% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, AMGEN INC increased its bottom line by earning $6.70 versus $6.65 in the prior year. This year, the market expects an improvement in earnings ($9.75 versus $6.70).
- The net income growth from the same quarter one year ago has greatly exceeded that of the S&P 500, but is less than that of the Biotechnology industry average. The net income increased by 6.8% when compared to the same quarter one year prior, going from $1,547.00 million to $1,653.00 million.
- Despite its growing revenue, the company underperformed as compared with the industry average of 10.3%. Since the same quarter one year prior, revenues slightly increased by 3.7%. Growth in the company's revenue appears to have helped boost the earnings per share.
- You can view the full analysis from the report here: AMGN