Equities Analysts Offer Predictions for Astrazeneca PLC’s Q3 2016 Earnings (AZN)
Astrazeneca PLC (NYSE:AZN) – Stock analysts at Jefferies Group issued their Q3 2016 earnings per share estimates for shares of Astrazeneca PLC in a research note issued to investors on Thursday. Jefferies Group analyst J. Holford forecasts that the firm will post earnings per share of $0.51 for the quarter. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for Astrazeneca PLC’s FY2018 earnings at $2.37 EPS, FY2019 earnings at $2.85 EPS and FY2020 earnings at $3.41 EPS.
Astrazeneca PLC (NYSE:AZN) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The business earned $5.60 billion during 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 company’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS.
Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Astrazeneca PLC in a research note on Monday, August 8th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Astrazeneca PLC in a research note on Monday, June 27th. Citigroup Inc. reiterated a “buy” rating on shares of Astrazeneca PLC in a report on Saturday, June 25th. Bank of America Corp. reiterated a “buy” rating and set a $36.65 price target on shares of Astrazeneca PLC in a report on Monday, July 18th. Finally, TheStreet upgraded Astrazeneca PLC from a “hold” rating to a “buy” rating in a report on Friday, July 22nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Astrazeneca PLC presently has a consensus rating of “Hold” and a consensus price target of $37.56.
Shares of Astrazeneca PLC (NYSE:AZN) opened at 30.59 on Friday. The stock has a market cap of $77.39 billion, a P/E ratio of 34.96 and a beta of 0.75. Astrazeneca PLC has a 12 month low of $26.97 and a 12 month high of $35.04. The stock’s 50 day moving average is $32.87 and its 200 day moving average is $30.88.
Hedge funds have recently made changes to their positions in the stock. Dodge & Cox boosted its stake in shares of Astrazeneca PLC by 24.9% in the second quarter. Dodge & Cox now owns 32,532,723 shares of the company’s stock worth $982,163,000 after buying an additional 6,483,073 shares during the period. Capital International Investors boosted its stake in shares of Astrazeneca PLC by 22.1% in the second quarter. Capital International Investors now owns 20,473,479 shares of the company’s stock worth $618,094,000 after buying an additional 3,705,199 shares during the period. Primecap Management Co. CA boosted its stake in shares of Astrazeneca PLC by 17.4% in the second quarter. Primecap Management Co. CA now owns 15,365,950 shares of the company’s stock worth $463,898,000 after buying an additional 2,281,675 shares during the period. BlackRock Investment Management LLC boosted its stake in shares of Astrazeneca PLC by 73.2% in the second quarter. BlackRock Investment Management LLC now owns 7,207,036 shares of the company’s stock worth $217,580,000 after buying an additional 3,046,268 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Astrazeneca PLC by 14.6% in the first quarter. Renaissance Technologies LLC now owns 5,682,800 shares of the company’s stock worth $160,028,000 after buying an additional 723,100 shares during the period. Hedge funds and other institutional investors own 11.39% of the company’s stock.
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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