We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Astrazeneca (AZN) Laps the Stock Market: Here's Why
Read MoreHide Full Article
In the latest trading session, Astrazeneca (AZN - Free Report) closed at $67.02, marking a +0.63% move from the previous day. This change outpaced the S&P 500's 0.53% gain on the day. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq increased by 0.19%.
The pharmaceutical's stock has dropped by 1.11% in the past month, falling short of the Medical sector's gain of 1.36% and the S&P 500's gain of 2.48%.
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 February 8, 2024. The company's earnings per share (EPS) are projected to be $0.79, reflecting a 14.49% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $12.1 billion, up 8% from the year-ago period.
Any recent changes to analyst estimates for Astrazeneca should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.08% higher 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 15.95. This represents a premium compared to its industry's average Forward P/E of 14.65.
Investors should also note that AZN has a PEG ratio of 1.18 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.82 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Astrazeneca (AZN) Laps the Stock Market: Here's Why
In the latest trading session, Astrazeneca (AZN - Free Report) closed at $67.02, marking a +0.63% move from the previous day. This change outpaced the S&P 500's 0.53% gain on the day. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq increased by 0.19%.
The pharmaceutical's stock has dropped by 1.11% in the past month, falling short of the Medical sector's gain of 1.36% and the S&P 500's gain of 2.48%.
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 February 8, 2024. The company's earnings per share (EPS) are projected to be $0.79, reflecting a 14.49% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $12.1 billion, up 8% from the year-ago period.
Any recent changes to analyst estimates for Astrazeneca should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.08% higher 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 15.95. This represents a premium compared to its industry's average Forward P/E of 14.65.
Investors should also note that AZN has a PEG ratio of 1.18 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.82 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.