AstraZeneca PLC (AZN) to Issue Dividend of 1.60 on March 23rd

AstraZeneca PLC (NASDAQ:AZN) declared a dividend on Tuesday, February 10th. Investors of record on Friday, February 20th will be paid a dividend of 1.595 per share on Monday, March 23rd. This represents a dividend yield of 165.0%. The ex-dividend date is Friday, February 20th.

AstraZeneca has raised its dividend by an average of 0.0%per year over the last three years. AstraZeneca has a dividend payout ratio of 85.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect AstraZeneca to earn $5.00 per share next year, which means the company should continue to be able to cover its $4.34 annual dividend with an expected future payout ratio of 86.8%.

AstraZeneca Price Performance

AZN stock opened at $209.39 on Wednesday. The stock’s 50 day moving average price is $117.40 and its 200 day moving average price is $94.95. The firm has a market cap of $324.74 billion, a P/E ratio of 69.56, a PEG ratio of 1.59 and a beta of 0.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.69 and a current ratio of 0.88. AstraZeneca has a 1 year low of $122.48 and a 1 year high of $211.27.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AZN. Citigroup assumed coverage on AstraZeneca in a research report on Tuesday, January 27th. They issued a “buy” rating on the stock. Jefferies Financial Group initiated coverage on shares of AstraZeneca in a report on Monday, October 27th. They issued a “buy” rating on the stock. HSBC reiterated a “buy” rating and set a $108.00 price target on shares of AstraZeneca in a report on Wednesday, December 10th. TD Cowen reiterated a “buy” rating on shares of AstraZeneca in a report on Tuesday, December 9th. Finally, Barclays restated an “overweight” rating on shares of AstraZeneca in a report on Tuesday, January 6th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.75.

About AstraZeneca

AstraZeneca is a global, science-led biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.