Brokers Set Expectations for AstraZeneca PLC’s Q1 2024 Earnings (NASDAQ:AZN)

AstraZeneca PLC (NASDAQ:AZN) – Equities research analysts at Leerink Partnrs reduced their Q1 2024 EPS estimates for shares of AstraZeneca in a research note issued to investors on Wednesday, April 24th. Leerink Partnrs analyst A. Berens now expects that the company will post earnings of $0.95 per share for the quarter, down from their previous estimate of $0.96. The consensus estimate for AstraZeneca’s current full-year earnings is $4.00 per share. Leerink Partnrs also issued estimates for AstraZeneca’s Q2 2024 earnings at $1.03 EPS, Q3 2024 earnings at $1.07 EPS, Q4 2024 earnings at $1.07 EPS and FY2024 earnings at $4.12 EPS.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Thursday, February 8th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.01). AstraZeneca had a net margin of 13.00% and a return on equity of 30.19%. The business had revenue of $12.02 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same quarter last year, the firm posted $0.69 earnings per share. AstraZeneca’s revenue was up 7.3% on a year-over-year basis.

A number of other equities analysts have also commented on the stock. Morgan Stanley initiated coverage on shares of AstraZeneca in a research report on Tuesday, January 23rd. They issued an “overweight” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Finally, Jefferies Financial Group lowered shares of AstraZeneca from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $80.00.

AstraZeneca Price Performance

Shares of AstraZeneca stock opened at $75.03 on Friday. The firm has a market cap of $232.63 billion, a P/E ratio of 39.08, a price-to-earnings-growth ratio of 1.31 and a beta of 0.50. AstraZeneca has a twelve month low of $60.47 and a twelve month high of $75.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.64 and a current ratio of 0.82. The firm’s 50-day simple moving average is $67.05 and its 200-day simple moving average is $66.02.

AstraZeneca Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, February 23rd were given a dividend of $0.965 per share. This represents a dividend yield of 2.3%. This is a positive change from AstraZeneca’s previous Semi-Annual dividend of $0.47. The ex-dividend date of this dividend was Thursday, February 22nd. AstraZeneca’s dividend payout ratio is presently 100.52%.

Hedge Funds Weigh In On AstraZeneca

Large investors have recently modified their holdings of the stock. Anchor Investment Management LLC bought a new stake in shares of AstraZeneca during the fourth quarter worth approximately $26,000. Compagnie Lombard Odier SCmA bought a new stake in shares of AstraZeneca during the fourth quarter worth approximately $27,000. Able Wealth Management LLC bought a new stake in shares of AstraZeneca during the fourth quarter worth approximately $27,000. Nemes Rush Group LLC raised its stake in shares of AstraZeneca by 375.6% during the third quarter. Nemes Rush Group LLC now owns 428 shares of the company’s stock worth $29,000 after buying an additional 338 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. raised its stake in shares of AstraZeneca by 468.4% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock worth $30,000 after buying an additional 370 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Company Profile

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company's marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.