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Astrazeneca (AZN) Laps the Stock Market: Here's Why
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In the latest market close, Astrazeneca (AZN - Free Report) reached $69.42, with a +0.35% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.08%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq appreciated by 0.02%.
The pharmaceutical's stock has climbed by 4.27% in the past month, falling short of the Medical sector's gain of 6.57% and outpacing the S&P 500's gain of 3.52%.
Analysts and investors alike will be keeping a close eye on the performance of Astrazeneca in its upcoming earnings disclosure. On that day, Astrazeneca is projected to report earnings of $0.78 per share, which would represent year-over-year growth of 13.04%. In the meantime, our current consensus estimate forecasts the revenue to be $12.08 billion, indicating a 7.75% growth compared to the corresponding quarter of the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Astrazeneca. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.08% increase. Astrazeneca presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Astrazeneca is presently trading at a Forward P/E ratio of 16.54. This expresses a premium compared to the average Forward P/E of 14.63 of its industry.
Investors should also note that AZN has a PEG ratio of 1.22 right now. 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 had an average PEG ratio of 1.82 as trading concluded yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 36% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Astrazeneca (AZN) Laps the Stock Market: Here's Why
In the latest market close, Astrazeneca (AZN - Free Report) reached $69.42, with a +0.35% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.08%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq appreciated by 0.02%.
The pharmaceutical's stock has climbed by 4.27% in the past month, falling short of the Medical sector's gain of 6.57% and outpacing the S&P 500's gain of 3.52%.
Analysts and investors alike will be keeping a close eye on the performance of Astrazeneca in its upcoming earnings disclosure. On that day, Astrazeneca is projected to report earnings of $0.78 per share, which would represent year-over-year growth of 13.04%. In the meantime, our current consensus estimate forecasts the revenue to be $12.08 billion, indicating a 7.75% growth compared to the corresponding quarter of the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Astrazeneca. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.08% increase. Astrazeneca presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Astrazeneca is presently trading at a Forward P/E ratio of 16.54. This expresses a premium compared to the average Forward P/E of 14.63 of its industry.
Investors should also note that AZN has a PEG ratio of 1.22 right now. 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 had an average PEG ratio of 1.82 as trading concluded yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 36% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.