AstraZeneca (AZN) Issues Earnings Results, Beats Estimates By $0.38 EPS

AstraZeneca (NYSE:AZN) posted its quarterly earnings data on Thursday. The company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.38, Briefing.com reports. AstraZeneca had a return on equity of 29.89% and a net margin of 11.98%. The company had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same quarter last year, the company earned $1.12 EPS. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. AstraZeneca updated its FY 2018 guidance to $3.30-3.50 EPS and its FY18 guidance to $3.30-3.50 EPS.

AZN traded up $1.44 during trading on Thursday, hitting $40.65. 5,475,700 shares of the company’s stock traded hands, compared to its average volume of 4,026,371. The company has a current ratio of 0.72, a quick ratio of 0.54 and a debt-to-equity ratio of 1.08. AstraZeneca has a 12-month low of $31.99 and a 12-month high of $41.28. The company has a market cap of $97.16 billion, a price-to-earnings ratio of 9.50, a P/E/G ratio of 2.05 and a beta of 0.57.

A number of research analysts recently weighed in on AZN shares. Jefferies Financial Group lowered AstraZeneca from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. ValuEngine lowered AstraZeneca from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Wolfe Research started coverage on AstraZeneca in a research report on Tuesday, October 23rd. They set an “outperform” rating for the company. Zacks Investment Research lowered AstraZeneca from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, Guggenheim initiated coverage on AstraZeneca in a research report on Monday, October 8th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $40.34.

In other AstraZeneca news, major shareholder Plc Astrazeneca bought 246,666 shares of the business’s stock in a transaction on Friday, September 28th. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $3,699,990.00. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional investors and hedge funds have recently modified their holdings of the business. Factorial Partners LLC purchased a new stake in AstraZeneca during the 3rd quarter valued at $119,000. NEXT Financial Group Inc purchased a new position in shares of AstraZeneca in the 3rd quarter worth $169,000. Bessemer Group Inc. boosted its stake in shares of AstraZeneca by 64.3% in the 2nd quarter. Bessemer Group Inc. now owns 4,651 shares of the company’s stock worth $163,000 after buying an additional 1,820 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of AstraZeneca in the 2nd quarter worth $175,000. Finally, Tiverton Asset Management LLC purchased a new position in shares of AstraZeneca in the 2nd quarter worth $178,000. Institutional investors and hedge funds own 16.10% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by Stock Observer and is the property of of Stock Observer. If you are viewing this piece on another domain, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece can be accessed at https://www.thestockobserver.com/2018/11/08/astrazeneca-azn-issues-earnings-results-beats-estimates-by-0-38-eps.html.

About AstraZeneca

AstraZeneca PLC discovers, develops, and commercializes prescription medicines for the treatment of oncology, cardiovascular and metabolic, respiratory, gastrointestinal, neuroscience, and infection diseases worldwide. Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor2, Plendil, Seloken/Toprol-XL4, Tenormin5, and Zestril6 for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Qtern, Symlin, Xigduo, and Xigduo XR for metabolic diseases.

Further Reading: Understanding Price to Earnings Ratio (PE)

Earnings History for AstraZeneca (NYSE:AZN)

Receive News & Ratings for AstraZeneca Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AstraZeneca and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply