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Astrazeneca (AZN) Falls More Steeply Than Broader Market: What Investors Need to Know
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Astrazeneca (AZN - Free Report) closed the most recent trading day at $64.42, moving -1.26% from the previous trading session. This change lagged the S&P 500's daily loss of 0.85%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 0.96%.
Heading into today, shares of the pharmaceutical had lost 4% over the past month, lagging the Medical sector's loss of 3.49% and the S&P 500's loss of 3.02% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Astrazeneca in its upcoming earnings disclosure. The company's earnings report is set to go public on November 9, 2023. On that day, Astrazeneca is projected to report earnings of $0.82 per share, which would represent a year-over-year decline of 2.38%. In the meantime, our current consensus estimate forecasts the revenue to be $11.56 billion, indicating a 5.24% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.66 per share and revenue of $45.86 billion, which would represent changes of +9.91% and +3.4%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Astrazeneca. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.04% lower within the past month. Currently, Astrazeneca is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Astrazeneca is currently being traded at a Forward P/E ratio of 17.84. This expresses a premium compared to the average Forward P/E of 14.33 of its industry.
Meanwhile, AZN's PEG ratio is currently 1.3. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.83 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 236, finds itself in the bottom 7% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Astrazeneca (AZN) Falls More Steeply Than Broader Market: What Investors Need to Know
Astrazeneca (AZN - Free Report) closed the most recent trading day at $64.42, moving -1.26% from the previous trading session. This change lagged the S&P 500's daily loss of 0.85%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 0.96%.
Heading into today, shares of the pharmaceutical had lost 4% over the past month, lagging the Medical sector's loss of 3.49% and the S&P 500's loss of 3.02% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Astrazeneca in its upcoming earnings disclosure. The company's earnings report is set to go public on November 9, 2023. On that day, Astrazeneca is projected to report earnings of $0.82 per share, which would represent a year-over-year decline of 2.38%. In the meantime, our current consensus estimate forecasts the revenue to be $11.56 billion, indicating a 5.24% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.66 per share and revenue of $45.86 billion, which would represent changes of +9.91% and +3.4%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Astrazeneca. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.04% lower within the past month. Currently, Astrazeneca is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Astrazeneca is currently being traded at a Forward P/E ratio of 17.84. This expresses a premium compared to the average Forward P/E of 14.33 of its industry.
Meanwhile, AZN's PEG ratio is currently 1.3. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.83 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 236, finds itself in the bottom 7% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.