Zacks: Brokerages Expect AstraZeneca PLC (NASDAQ:AZN) Will Post Quarterly Sales of $10.49 Billion

Brokerages expect AstraZeneca PLC (NASDAQ:AZNGet Rating) to post $10.49 billion in sales for the current quarter, according to Zacks. Two analysts have provided estimates for AstraZeneca’s earnings. The highest sales estimate is $10.68 billion and the lowest is $10.31 billion. AstraZeneca posted sales of $8.22 billion in the same quarter last year, which suggests a positive year over year growth rate of 27.6%. The firm is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that AstraZeneca will report full year sales of $44.03 billion for the current year, with estimates ranging from $43.69 billion to $44.33 billion. For the next year, analysts anticipate that the business will report sales of $46.82 billion, with estimates ranging from $46.19 billion to $47.42 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover AstraZeneca.

AstraZeneca (NASDAQ:AZNGet Rating) last released its quarterly earnings data on Thursday, April 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. The business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.96 billion. AstraZeneca had a negative net margin of 2.56% and a positive return on equity of 26.29%. The company’s revenue for the quarter was up 55.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 EPS.

Several equities research analysts have recently issued reports on the stock. Credit Suisse Group lifted their price objective on shares of AstraZeneca from GBX 9,000 ($110.96) to £110 ($135.62) in a research report on Friday, April 8th. Barclays lifted their price objective on shares of AstraZeneca from £115 ($141.78) to £120 ($147.95) in a research report on Thursday, April 14th. JPMorgan Chase & Co. boosted their price target on shares of AstraZeneca from £100 ($123.29) to £120 ($147.95) in a research report on Thursday, April 7th. SVB Leerink boosted their price target on shares of AstraZeneca from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 24th. Finally, DZ Bank raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Friday, February 11th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, AstraZeneca currently has an average rating of “Buy” and a consensus price target of $7,223.13.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of AstraZeneca during the fourth quarter worth about $542,230,000. Renaissance Technologies LLC increased its stake in shares of AstraZeneca by 3,313.2% during the third quarter. Renaissance Technologies LLC now owns 6,884,376 shares of the company’s stock worth $413,476,000 after acquiring an additional 6,682,676 shares during the period. Wellington Management Group LLP increased its stake in shares of AstraZeneca by 9.3% during the third quarter. Wellington Management Group LLP now owns 53,145,564 shares of the company’s stock worth $3,191,923,000 after acquiring an additional 4,526,346 shares during the period. Hsbc Holdings PLC increased its stake in shares of AstraZeneca by 295.1% during the third quarter. Hsbc Holdings PLC now owns 5,895,240 shares of the company’s stock worth $355,716,000 after acquiring an additional 4,403,238 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of AstraZeneca by 59.6% during the third quarter. Franklin Resources Inc. now owns 9,524,576 shares of the company’s stock worth $572,045,000 after acquiring an additional 3,556,457 shares during the period. Institutional investors own 20.46% of the company’s stock.

AstraZeneca stock opened at $63.64 on Wednesday. The stock has a market cap of $197.21 billion, a P/E ratio of -198.87, a price-to-earnings-growth ratio of 1.19 and a beta of 0.45. The company has a fifty day simple moving average of $65.13 and a 200-day simple moving average of $60.80. AstraZeneca has a 12-month low of $53.33 and a 12-month high of $71.70. The company has a current ratio of 1.16, a quick ratio of 0.76 and a debt-to-equity ratio of 0.72.

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, March 28th. Shareholders of record on Friday, February 25th were paid a $0.985 dividend. The ex-dividend date of this dividend was Thursday, February 24th. This is a positive change from AstraZeneca’s previous semi-annual dividend of $0.45. This represents a yield of 2.4%. AstraZeneca’s payout ratio is currently -603.11%.

AstraZeneca Company Profile (Get Rating)

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacturing, and commercialization of prescription medicines. Its marketed products include Calquence, Enhertu, Faslodex, Imfinzi, Iressa, Koselugo, Lumoxiti, Lynparza, Orpathys, Tagrisso, and Zoladex for oncology; Brilinta/Brilique, Bydureon/Byetta, BCise, Byetta, Crestor, Evrenzo, Farxiga/Forxiga, Komboglyze/Kombiglyze XR, Lokelma, Onglyza, Qtern, and Xigduo/Xigduo XR for cardiovascular, renal, and metabolism diseases; Bevespi Aerosphere, Breztri Aerosphere, Daliresp/Daxas, Duaklir Genuair, Fasenra, Pulmicort, Saphnelo, Symbicort, and Tudorza/Eklira/Bretaris for respiratory and immunology; and Andexxa/Ondexxya, Kanuma, Soliris, Strensiq, and Ultomiris for rare diseases.

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Earnings History and Estimates for AstraZeneca (NASDAQ:AZN)

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