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Astrazeneca (AZN) Dips More Than Broader Markets: What You Should Know
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Astrazeneca (AZN - Free Report) closed the most recent trading day at $74.84, moving -0.24% from the previous trading session. This move lagged the S&P 500's daily loss of 0.01%. Elsewhere, the Dow lost 0.23%, while the tech-heavy Nasdaq added 0.97%.
Prior to today's trading, shares of the pharmaceutical had gained 11.99% over the past month. This has outpaced the Medical sector's gain of 5.81% and the S&P 500's gain of 6.23% in that time.
Wall Street will be looking for positivity from Astrazeneca as it approaches its next earnings report date. This is expected to be April 27, 2023. On that day, Astrazeneca is projected to report earnings of $0.85 per share, which would represent a year-over-year decline of 10.53%. Our most recent consensus estimate is calling for quarterly revenue of $11.34 billion, down 0.44% from the year-ago period.
AZN's full-year Zacks Consensus Estimates are calling for earnings of $3.60 per share and revenue of $46.35 billion. These results would represent year-over-year changes of +8.11% and +4.51%, respectively.
Investors might also notice recent changes to analyst estimates for Astrazeneca. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.14% lower. Astrazeneca is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Astrazeneca currently has a Forward P/E ratio of 20.82. Its industry sports an average Forward P/E of 14.8, so we one might conclude that Astrazeneca is trading at a premium comparatively.
Meanwhile, AZN's PEG ratio is currently 1.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.82 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 30, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Astrazeneca (AZN) Dips More Than Broader Markets: What You Should Know
Astrazeneca (AZN - Free Report) closed the most recent trading day at $74.84, moving -0.24% from the previous trading session. This move lagged the S&P 500's daily loss of 0.01%. Elsewhere, the Dow lost 0.23%, while the tech-heavy Nasdaq added 0.97%.
Prior to today's trading, shares of the pharmaceutical had gained 11.99% over the past month. This has outpaced the Medical sector's gain of 5.81% and the S&P 500's gain of 6.23% in that time.
Wall Street will be looking for positivity from Astrazeneca as it approaches its next earnings report date. This is expected to be April 27, 2023. On that day, Astrazeneca is projected to report earnings of $0.85 per share, which would represent a year-over-year decline of 10.53%. Our most recent consensus estimate is calling for quarterly revenue of $11.34 billion, down 0.44% from the year-ago period.
AZN's full-year Zacks Consensus Estimates are calling for earnings of $3.60 per share and revenue of $46.35 billion. These results would represent year-over-year changes of +8.11% and +4.51%, respectively.
Investors might also notice recent changes to analyst estimates for Astrazeneca. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.14% lower. Astrazeneca is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Astrazeneca currently has a Forward P/E ratio of 20.82. Its industry sports an average Forward P/E of 14.8, so we one might conclude that Astrazeneca is trading at a premium comparatively.
Meanwhile, AZN's PEG ratio is currently 1.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.82 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 30, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.