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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 $73.95, moving -1.69% from the previous trading session. This change lagged the S&P 500's daily loss of 0.47%. Meanwhile, the Dow lost 0.72%, and the Nasdaq, a tech-heavy index, lost 5.08%.
Prior to today's trading, shares of the pharmaceutical had gained 1.03% over the past month. This has outpaced the Medical sector's gain of 0.37% and lagged the S&P 500's gain of 5.36% in that time.
Astrazeneca will be looking to display strength as it nears its next earnings release. On that day, Astrazeneca is projected to report earnings of $0.99 per share, which would represent year-over-year growth of 15.12%. Our most recent consensus estimate is calling for quarterly revenue of $11.29 billion, up 4.81% from the year-ago period.
AZN's full-year Zacks Consensus Estimates are calling for earnings of $3.69 per share and revenue of $45.9 billion. These results would represent year-over-year changes of +10.81% and +3.49%, 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.14% lower. Astrazeneca is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Astrazeneca has a Forward P/E ratio of 20.39 right now. For comparison, its industry has an average Forward P/E of 15.15, which means Astrazeneca is trading at a premium to the group.
It is also worth noting that AZN currently has a PEG ratio of 1.5. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.7 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $73.95, moving -1.69% from the previous trading session. This change lagged the S&P 500's daily loss of 0.47%. Meanwhile, the Dow lost 0.72%, and the Nasdaq, a tech-heavy index, lost 5.08%.
Prior to today's trading, shares of the pharmaceutical had gained 1.03% over the past month. This has outpaced the Medical sector's gain of 0.37% and lagged the S&P 500's gain of 5.36% in that time.
Astrazeneca will be looking to display strength as it nears its next earnings release. On that day, Astrazeneca is projected to report earnings of $0.99 per share, which would represent year-over-year growth of 15.12%. Our most recent consensus estimate is calling for quarterly revenue of $11.29 billion, up 4.81% from the year-ago period.
AZN's full-year Zacks Consensus Estimates are calling for earnings of $3.69 per share and revenue of $45.9 billion. These results would represent year-over-year changes of +10.81% and +3.49%, 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.14% lower. Astrazeneca is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Astrazeneca has a Forward P/E ratio of 20.39 right now. For comparison, its industry has an average Forward P/E of 15.15, which means Astrazeneca is trading at a premium to the group.
It is also worth noting that AZN currently has a PEG ratio of 1.5. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.7 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.