Leerink Swann Analysts Lower Earnings Estimates for Astrazeneca PLC (AZN)
Astrazeneca PLC (NYSE:AZN) – Research analysts at Leerink Swann cut their FY2017 EPS estimates for shares of Astrazeneca PLC in a note issued to investors on Thursday. Leerink Swann analyst S. Fernandez now forecasts that the firm will post earnings of $1.78 per share for the year, down from their previous forecast of $1.81. Leerink Swann currently has a “Hold” rating and a $34.00 target price on the stock. Leerink Swann also issued estimates for Astrazeneca PLC’s FY2019 earnings at $2.33 EPS and FY2020 earnings at $2.66 EPS.
Astrazeneca PLC (NYSE:AZN) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.07. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.56 billion. Astrazeneca PLC had a net margin of 9.23% and a return on equity of 28.02%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 EPS.
Other equities analysts also recently issued research reports about the company. Citigroup Inc. reiterated a “buy” rating on shares of Astrazeneca PLC in a report on Wednesday, July 27th. Bank of America Corp. set a $41.40 price objective on Astrazeneca PLC and gave the stock a “buy” rating in a report on Thursday, September 8th. Piper Jaffray Cos. initiated coverage on Astrazeneca PLC in a report on Friday, September 23rd. They issued an “overweight” rating for the company. TheStreet upgraded Astrazeneca PLC from a “hold” rating to a “buy” rating in a report on Friday, July 22nd. Finally, BNP Paribas downgraded Astrazeneca PLC from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $37.44.
Astrazeneca PLC (NYSE:AZN) traded up 0.09% during midday trading on Friday, hitting $32.29. The stock had a trading volume of 4,009,040 shares. The firm has a market cap of $81.69 billion, a price-to-earnings ratio of 36.90 and a beta of 0.75. The firm has a 50 day moving average of $33.23 and a 200 day moving average of $30.79. Astrazeneca PLC has a 52 week low of $26.97 and a 52 week high of $35.04.
The business also recently disclosed a dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 12th were paid a $0.44 dividend. The ex-dividend date was Wednesday, August 10th. Astrazeneca PLC’s dividend payout ratio (DPR) is currently 78.29%.
A number of hedge funds have recently modified their holdings of AZN. JPMorgan Chase & Co. increased its stake in shares of Astrazeneca PLC by 0.3% in the first quarter. JPMorgan Chase & Co. now owns 2,325,462 shares of the company’s stock valued at $65,485,000 after buying an additional 6,027 shares during the period. Integrated Investment Consultants LLC increased its stake in shares of Astrazeneca PLC by 6.1% in the second quarter. Integrated Investment Consultants LLC now owns 4,756 shares of the company’s stock valued at $144,000 after buying an additional 275 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Astrazeneca PLC by 3.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 34,217 shares of the company’s stock valued at $964,000 after buying an additional 1,027 shares during the period. Fisher Asset Management LLC increased its stake in shares of Astrazeneca PLC by 45.2% in the second quarter. Fisher Asset Management LLC now owns 338,979 shares of the company’s stock valued at $10,159,000 after buying an additional 105,570 shares during the period. Finally, Garrison Financial Corp increased its stake in shares of Astrazeneca PLC by 1.1% in the second quarter. Garrison Financial Corp now owns 18,992 shares of the company’s stock valued at $573,000 after buying an additional 205 shares during the period. 11.39% of the stock is currently owned by institutional investors.
About Astrazeneca PLC
AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on the discovery, development and commercialization of prescription medicines, primarily for the treatment of diseases in various therapy areas, including respiratory, inflammation, autoimmune disease (RIA), cardiovascular and metabolic disease (CVMD) and oncology, as well as in infection, neuroscience and gastrointestinal areas.
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