Analysts Set Expectations for AstraZeneca PLC’s FY2023 Earnings (NASDAQ:AZN)

AstraZeneca PLC (NASDAQ:AZN) – Stock analysts at Leerink Partnrs decreased their FY2023 earnings estimates for shares of AstraZeneca in a research report issued to clients and investors on Wednesday, September 6th. Leerink Partnrs analyst A. Berens now forecasts that the company will post earnings of $3.65 per share for the year, down from their prior estimate of $3.71. The consensus estimate for AstraZeneca’s current full-year earnings is $3.65 per share. Leerink Partnrs also issued estimates for AstraZeneca’s FY2024 earnings at $4.24 EPS, FY2025 earnings at $5.05 EPS and FY2026 earnings at $5.85 EPS.

Other research analysts have also recently issued research reports about the stock. UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 12th. HSBC began coverage on shares of AstraZeneca in a research note on Friday, July 14th. They set a “buy” rating on the stock. StockNews.com began coverage on shares of AstraZeneca in a research note on Wednesday, August 23rd. They set a “strong-buy” rating on the stock. Argus lowered their target price on shares of AstraZeneca from $85.00 to $80.00 in a research note on Friday, May 26th. Finally, Deutsche Bank Aktiengesellschaft cut shares of AstraZeneca from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.00.

AstraZeneca Trading Up 0.3 %

Shares of AstraZeneca stock opened at $68.22 on Monday. The company’s fifty day simple moving average is $68.46 and its 200-day simple moving average is $71.00. The stock has a market capitalization of $211.47 billion, a PE ratio of 34.28, a P/E/G ratio of 1.36 and a beta of 0.50. AstraZeneca has a 1-year low of $52.65 and a 1-year high of $76.56. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.87 and a quick ratio of 0.67.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Friday, July 28th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.11. The business had revenue of $11.42 billion for the quarter, compared to analysts’ expectations of $11.06 billion. AstraZeneca had a net margin of 13.86% and a return on equity of 30.39%.

Institutional Trading of AstraZeneca

Several hedge funds have recently bought and sold shares of the stock. Capital International Investors increased its holdings in shares of AstraZeneca by 0.6% in the 2nd quarter. Capital International Investors now owns 38,339,765 shares of the company’s stock worth $2,740,406,000 after buying an additional 211,055 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of AstraZeneca by 34.7% in the 2nd quarter. Jennison Associates LLC now owns 21,807,209 shares of the company’s stock worth $1,560,742,000 after buying an additional 5,617,054 shares during the last quarter. GQG Partners LLC increased its holdings in shares of AstraZeneca by 25.3% in the 1st quarter. GQG Partners LLC now owns 21,545,387 shares of the company’s stock worth $1,495,465,000 after buying an additional 4,348,916 shares during the last quarter. Morgan Stanley increased its holdings in shares of AstraZeneca by 18.0% in the 4th quarter. Morgan Stanley now owns 10,222,597 shares of the company’s stock worth $693,092,000 after buying an additional 1,561,194 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of AstraZeneca by 5.2% in the 1st quarter. Bank of America Corp DE now owns 10,179,720 shares of the company’s stock worth $706,574,000 after buying an additional 499,916 shares during the last quarter. Hedge funds and other institutional investors own 15.68% of the company’s stock.

AstraZeneca Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 11th will be paid a $0.465 dividend. This represents a yield of 2%. The ex-dividend date of this dividend is Thursday, August 10th. AstraZeneca’s payout ratio is currently 45.73%.

About AstraZeneca

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company's marketed products include Calquence, Enhertu, Faslodex, Imfinzi, Iressa, Koselugo, Lumoxiti, Lynparza, Orpathys, Tagrisso, and Zoladex for oncology; Andexxa/Ondexxya, Atacand, Atacand HCT, Atacand Plus, Brilinta/Brilique, Bydureon/Byetta, BCise, Byetta, Crestor, Evrenzo, Farxiga/Forxiga, Komboglyze/Kombiglyze XR, Lokelma, Onglyza, Qtern, Xigduo/Xigduo, and Zestril XR for cardiovascular, renal, and metabolism diseases; Accolate, Accoleit, Vanticon, Bevespi Aerosphere, Breztri Aerosphere, Bricanyl Respules and Turbuhaler, Daliresp/Daxas, Duaklir Genuair, Fasenra, Pulmicort, Rhinocort, Saphnelo, Symbicort, and Tezspire for respiratory and immunology; and Kanuma, Soliris, Strensiq, and Ultomiris for rare diseases.