Astrazeneca (AZN) closed at $71.42 during the most recent trading session, which reflects a +0.38% change from the previous day. While this gain is positive, it falls slightly behind the S&P 500’s daily increase of 0.41%. In contrast, the Dow Jones industrial average rose by 0.69%, and the tech-heavy Nasdaq index saw a boost of 0.8%.
As of now, Astrazeneca’s shares have decreased by 8.7% over the past month. This drop has outpaced the Medical sector’s loss of 4.61% and the S&P 500’s decline of 0.97% during the same timeframe.
Anticipating Earnings: Key Figures to Watch
All eyes are on Astrazeneca as the company prepares to release its earnings on November 12, 2024. Analysts predict an earnings per share (EPS) of $1.02, which is a 17.24% increase from the same quarter last year. Furthermore, the consensus estimate for revenue stands at $13.07 billion, suggesting a 13.77% growth compared to the previous year.
For the entire year, the Zacks Consensus Estimates predict earnings of $4.05 per share and a total revenue of $52.57 billion. If these figures are accurate, they would indicate growths of +11.57% and +14.75%, respectively, compared to the prior year.
Analyst Outlook: Keeping Tabs on Adjustments
Investors should monitor any changes in analyst estimates for Astrazeneca, as these revisions reflect evolving business trends and affect stock price predictions. Generally, positive estimates hint at analyst confidence in the company’s future performance and profitability.
The Zacks Rank, a quantitative model that collects these estimate changes, offers investors a rating system ranging from #1 (Strong Buy) to #5 (Strong Sell). Historically, #1 stocks have shown an average annual return of +25% since 1988, highlighting the reliability of this model. Notably, the Zacks Consensus EPS estimate has seen a slight reduction of 0.1% in the past month, and Astrazeneca currently holds a Zacks Rank of #3 (Hold).
Current Valuation: How AstraZeneca Stacks Up
In terms of valuation, Astrazeneca is trading at a Forward P/E ratio of 17.56, which is higher than the industry average of 15.25. Additionally, it has a current PEG ratio of 1.32, a metric that not only considers earnings but also the anticipated growth rate, while the Large Cap Pharmaceuticals industry average PEG stands at 1.52.
The Large Cap Pharmaceuticals industry is part of the broader Medical sector and has a Zacks Industry Rank of 58, placing it in the top 24% of over 250 industries. This ranking gauges industry strength based on the average Zacks Rank of individual stocks, indicating that top-rated industries tend to outperform lower-rated ones.
Stay Updated on AstraZeneca
To keep track of Astrazeneca’s performance in the upcoming trading sessions, visit Zacks.com.
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AstraZeneca PLC (AZN) : Free Stock Analysis Report
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
