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Astrazeneca (AZN) Stock Sinks As Market Gains: What You Should Know
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Astrazeneca (AZN - Free Report) closed at $72.07 in the latest trading session, marking a -0.37% move from the prior day. This move lagged the S&P 500's daily gain of 0.1%. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq lost 2.19%.
Prior to today's trading, shares of the pharmaceutical had gained 12.7% over the past month. This has outpaced the Medical sector's gain of 4.07% and the S&P 500's gain of 3.13% in that time.
Wall Street will be looking for positivity from Astrazeneca as it approaches its next earnings report date. This is expected to be April 27, 2023. In that report, analysts expect Astrazeneca to post earnings of $0.85 per share. This would mark a year-over-year decline of 10.53%. Our most recent consensus estimate is calling for quarterly revenue of $11.34 billion, down 0.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.61 per share and revenue of $46.35 billion. These totals would mark changes of +8.41% and +4.51%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Astrazeneca is currently a Zacks Rank #3 (Hold).
Digging into valuation, Astrazeneca currently has a Forward P/E ratio of 20.05. Its industry sports an average Forward P/E of 14.71, so we one might conclude that Astrazeneca is trading at a premium comparatively.
Also, we should mention that AZN has a PEG ratio of 1.33. 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. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.73 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% 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.
To follow AZN in the coming trading sessions, be sure to utilize Zacks.com.
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Astrazeneca (AZN) Stock Sinks As Market Gains: What You Should Know
Astrazeneca (AZN - Free Report) closed at $72.07 in the latest trading session, marking a -0.37% move from the prior day. This move lagged the S&P 500's daily gain of 0.1%. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq lost 2.19%.
Prior to today's trading, shares of the pharmaceutical had gained 12.7% over the past month. This has outpaced the Medical sector's gain of 4.07% and the S&P 500's gain of 3.13% in that time.
Wall Street will be looking for positivity from Astrazeneca as it approaches its next earnings report date. This is expected to be April 27, 2023. In that report, analysts expect Astrazeneca to post earnings of $0.85 per share. This would mark a year-over-year decline of 10.53%. Our most recent consensus estimate is calling for quarterly revenue of $11.34 billion, down 0.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.61 per share and revenue of $46.35 billion. These totals would mark changes of +8.41% and +4.51%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Astrazeneca is currently a Zacks Rank #3 (Hold).
Digging into valuation, Astrazeneca currently has a Forward P/E ratio of 20.05. Its industry sports an average Forward P/E of 14.71, so we one might conclude that Astrazeneca is trading at a premium comparatively.
Also, we should mention that AZN has a PEG ratio of 1.33. 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. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.73 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% 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.
To follow AZN in the coming trading sessions, be sure to utilize Zacks.com.