Astrazeneca PLC Forecasted to Post Q3 2016 Earnings of $0.47 Per Share (AZN)
Astrazeneca PLC (NYSE:AZN) – Equities researchers at Leerink Swann reduced their Q3 2016 EPS estimates for Astrazeneca PLC in a research report issued on Thursday. Leerink Swann analyst S. Fernandez now expects that the firm will post earnings of $0.47 per share for the quarter, down from their prior forecast of $0.56. Leerink Swann currently has a “Hold” rating and a $35.00 price target on the stock. Leerink Swann also issued estimates for Astrazeneca PLC’s FY2018 earnings at $2.06 EPS.
Several other equities research analysts have also recently commented on AZN. Shore Capital reaffirmed a “hold” rating on shares of Astrazeneca PLC in a report on Tuesday, June 14th. Citigroup Inc. reiterated a “buy” rating on shares of Astrazeneca PLC in a research report on Saturday, June 25th. Deutsche Bank AG reiterated a “buy” rating on shares of Astrazeneca PLC in a research report on Monday, June 27th. Argus began coverage on Astrazeneca PLC in a research report on Tuesday, July 12th. They issued a “hold” rating for the company. Finally, Bank of America Corp. reiterated a “buy” rating and issued a $36.65 price objective on shares of Astrazeneca PLC in a research report on Monday, July 18th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $37.56.
Astrazeneca PLC (NYSE:AZN) opened at 32.06 on Monday. The company has a market capitalization of $81.11 billion, a price-to-earnings ratio of 36.64 and a beta of 0.75. Astrazeneca PLC has a 52-week low of $26.97 and a 52-week high of $35.04. The stock has a 50 day moving average price of $33.19 and a 200 day moving average price of $30.86.
Astrazeneca PLC (NYSE:AZN) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.07. The firm earned $5.60 billion during the quarter, compared to analyst estimates of $5.56 billion. Astrazeneca PLC had a return on equity of 28.02% and a net margin of 9.23%. 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 company posted $1.21 EPS.
Hedge funds have recently bought and sold shares of the company. TIAA CREF Investment Management LLC boosted its stake in Astrazeneca PLC by 45.2% in the first quarter. TIAA CREF Investment Management LLC now owns 398,366 shares of the company’s stock worth $11,218,000 after buying an additional 124,066 shares during the period. Teachers Advisors Inc. boosted its stake in Astrazeneca PLC by 595.6% in the first quarter. Teachers Advisors Inc. now owns 510,989 shares of the company’s stock worth $14,389,000 after buying an additional 437,531 shares during the period. Franklin Resources Inc. boosted its stake in Astrazeneca PLC by 89.8% in the first quarter. Franklin Resources Inc. now owns 2,026,200 shares of the company’s stock worth $57,058,000 after buying an additional 958,821 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Astrazeneca PLC by 118.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 11,230 shares of the company’s stock worth $316,000 after buying an additional 6,081 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Astrazeneca PLC by 0.3% in the first quarter. JPMorgan Chase & Co. now owns 2,325,462 shares of the company’s stock worth $65,485,000 after buying an additional 6,027 shares during the period. Institutional investors and hedge funds own 11.39% of the company’s stock.
The company also recently announced a dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 12th were given a dividend of $0.44 per share. The ex-dividend date was Wednesday, August 10th. Astrazeneca PLC’s dividend payout ratio (DPR) is currently 78.29%.
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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