Amgen Earnings Estimate Cut by Erste Group Bank to $24.36 per Share

Erste Group Bank has reduced its earnings estimate for Amgen (NASDAQ:AMGN), one of the largest biotechnology companies in the world. The bank's analyst, H. Engel, now predicts that Amgen will earn $24.36 per share in FY2027, down from their previous forecast of $24.43.

Erste Group Bank is not alone in its revised estimate for Amgen. Consensus estimates among analysts currently stand at $22.94 per share for the full year.

The revision comes as several other analysts have weighed in on Amgen, with Citigroup upping their target price from $345 to $405 and giving a 'neutral' rating, while Mizuho boosted its target price from $303 to $352 and also gave a 'neutral' rating. In contrast, HSBC downgraded the stock from 'buy' to 'hold' and reduced its price objective from $445 to $425.

The company's recent dividend payment of $2.52 per share was announced on August 21st, with an ex-dividend date also set for that day. The quarterly dividend payout represents a yield of 2.6% and is based on the company's current stock price of $393.16.