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Astrazeneca (AZN) Stock Sinks As Market Gains: What You Should Know
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Astrazeneca (AZN - Free Report) closed the most recent trading day at $71.67, moving -0.08% from the previous trading session. This move lagged the S&P 500's daily gain of 1.15%. Meanwhile, the Dow gained 0.63%, and the Nasdaq, a tech-heavy index, added 7.23%.
Coming into today, shares of the pharmaceutical had lost 1.09% in the past month. In that same time, the Medical sector gained 2.4%, while the S&P 500 gained 3.08%.
Astrazeneca will be looking to display strength as it nears its next earnings release, which is expected to be July 28, 2023. In that report, analysts expect Astrazeneca to post earnings of $0.99 per share. This would mark 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.69 per share and revenue of $45.9 billion, which would represent changes of +10.81% and +3.49%, respectively, from the prior year.
It is also important to note the 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.14% lower within the past month. Astrazeneca is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Astrazeneca is holding a Forward P/E ratio of 19.45. Its industry sports an average Forward P/E of 14.76, so we one might conclude that Astrazeneca is trading at a premium comparatively.
We can also see that AZN currently has a PEG ratio of 1.43. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.75 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Stock Sinks As Market Gains: What You Should Know
Astrazeneca (AZN - Free Report) closed the most recent trading day at $71.67, moving -0.08% from the previous trading session. This move lagged the S&P 500's daily gain of 1.15%. Meanwhile, the Dow gained 0.63%, and the Nasdaq, a tech-heavy index, added 7.23%.
Coming into today, shares of the pharmaceutical had lost 1.09% in the past month. In that same time, the Medical sector gained 2.4%, while the S&P 500 gained 3.08%.
Astrazeneca will be looking to display strength as it nears its next earnings release, which is expected to be July 28, 2023. In that report, analysts expect Astrazeneca to post earnings of $0.99 per share. This would mark 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.69 per share and revenue of $45.9 billion, which would represent changes of +10.81% and +3.49%, respectively, from the prior year.
It is also important to note the 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.14% lower within the past month. Astrazeneca is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Astrazeneca is holding a Forward P/E ratio of 19.45. Its industry sports an average Forward P/E of 14.76, so we one might conclude that Astrazeneca is trading at a premium comparatively.
We can also see that AZN currently has a PEG ratio of 1.43. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.75 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.