Analysts forecast that AstraZeneca plc (NYSE:AZN) will report $6.33 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for AstraZeneca’s earnings. The highest sales estimate is $6.63 billion and the lowest is $6.02 billion. AstraZeneca reported sales of $5.82 billion during the same quarter last year, which indicates a positive year over year growth rate of 8.8%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, July 30th.
According to Zacks, analysts expect that AstraZeneca will report full-year sales of $26.70 billion for the current fiscal year, with estimates ranging from $26.15 billion to $27.50 billion. For the next year, analysts expect that the business will report sales of $30.16 billion, with estimates ranging from $28.52 billion to $32.73 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow AstraZeneca.
AstraZeneca (NYSE:AZN) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.06. AstraZeneca had a net margin of 5.94% and a return on equity of 33.97%. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $5.95 billion. During the same period last year, the business posted $0.89 earnings per share. AstraZeneca’s quarterly revenue was up 16.3% compared to the same quarter last year.
Several brokerages have commented on AZN. Zacks Investment Research upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Monday, June 15th. Cowen boosted their price objective on shares of AstraZeneca from $55.00 to $60.00 in a research report on Wednesday, June 10th. Argus boosted their price objective on shares of AstraZeneca from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Guggenheim restated a “buy” rating on shares of AstraZeneca in a research note on Friday, May 29th. Finally, SVB Leerink lifted their target price on shares of AstraZeneca from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $59.75.
AZN traded up $0.21 on Thursday, hitting $52.91. The company had a trading volume of 4,526,100 shares, compared to its average volume of 4,623,390. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.75 and a quick ratio of 0.57. AstraZeneca has a 52-week low of $36.15 and a 52-week high of $57.44. The stock has a fifty day simple moving average of $53.55 and a 200-day simple moving average of $49.38. The firm has a market capitalization of $138.80 billion, a P/E ratio of 89.68, a P/E/G ratio of 1.57 and a beta of 0.57.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC grew its stake in AstraZeneca by 223.8% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 557 shares of the company’s stock valued at $25,000 after acquiring an additional 385 shares during the last quarter. OmniStar Financial Group Inc. bought a new stake in shares of AstraZeneca during the first quarter valued at approximately $26,000. Verus Capital Partners LLC bought a new stake in shares of AstraZeneca during the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC bought a new stake in shares of AstraZeneca during the first quarter valued at approximately $31,000. Finally, Gemmer Asset Management LLC increased its position in shares of AstraZeneca by 272.3% during the first quarter. Gemmer Asset Management LLC now owns 752 shares of the company’s stock valued at $34,000 after purchasing an additional 550 shares during the period. Hedge funds and other institutional investors own 16.84% of the company’s stock.
AstraZeneca Company Profile
AstraZeneca PLC discovers, develops, and commercializes prescription medicines in the areas of oncology, cardiovascular, renal and metabolism, respiratory, autoimmunity, infection, neuroscience, and gastroenterology worldwide. Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor, Plendil, Seloken/Toprol-XL, Tenormin, and Zestril for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Qtern, Symlin, Xigduo, and Xigduo XR for metabolic diseases.
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