Q1 2024 EPS Estimates for AstraZeneca PLC Lowered by Analyst (NASDAQ:AZN)

AstraZeneca PLC (NASDAQ:AZN) – Equities researchers at Leerink Partnrs lowered their Q1 2024 earnings per share estimates for AstraZeneca in a research report issued on Wednesday, April 24th. Leerink Partnrs analyst A. Berens now forecasts that the company will earn $0.95 per share for the quarter, down from their prior 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 posted its quarterly earnings data on Thursday, February 8th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). AstraZeneca had a net margin of 13.00% and a return on equity of 30.19%. The firm had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $12.07 billion. During the same quarter last year, the company posted $0.69 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year.

Several other analysts have also issued reports on AZN. Jefferies Financial Group lowered AstraZeneca from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. BMO Capital Markets upped their price objective on AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Morgan Stanley initiated coverage on AstraZeneca in a research note on Tuesday, January 23rd. They issued an “overweight” rating for the company. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.00.

AstraZeneca Stock Performance

NASDAQ:AZN opened at $75.17 on Friday. The stock has a 50-day simple moving average of $67.27 and a two-hundred day simple moving average of $66.07. AstraZeneca has a 52-week low of $60.47 and a 52-week 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 has a market capitalization of $233.06 billion, a PE ratio of 39.15, a P/E/G ratio of 1.31 and a beta of 0.50.

Institutional Investors Weigh In On AstraZeneca

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC bought a new stake in shares of AstraZeneca during the fourth quarter worth $26,000. Compagnie Lombard Odier SCmA bought a new stake in shares of AstraZeneca during the fourth quarter worth $27,000. Able Wealth Management LLC bought a new stake in shares of AstraZeneca during the fourth quarter worth $27,000. Nemes Rush Group LLC lifted its position 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 purchasing an additional 338 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. lifted its position 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 purchasing an additional 370 shares during the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Increases Dividend

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

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.