Equities Analysts Offer Predictions for AstraZeneca PLC’s FY2023 Earnings (NASDAQ:AZN)

AstraZeneca PLC (NASDAQ:AZNFree Report) – Stock analysts at Leerink Partnrs decreased their FY2023 earnings estimates for shares of AstraZeneca in a research report issued to clients and investors on Monday, February 5th. Leerink Partnrs analyst A. Berens now forecasts that the company will earn $3.70 per share for the year, down from their previous estimate of $3.77. The consensus estimate for AstraZeneca’s current full-year earnings is $3.66 per share. Leerink Partnrs also issued estimates for AstraZeneca’s Q1 2024 earnings at $0.95 EPS, Q4 2024 earnings at $1.05 EPS, FY2024 earnings at $4.00 EPS and FY2025 earnings at $5.31 EPS.

AstraZeneca (NASDAQ:AZNGet Free Report) last posted its earnings results on Wednesday, November 8th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $11.49 billion for the quarter, compared to analyst estimates of $11.55 billion. AstraZeneca had a net margin of 13.10% and a return on equity of 30.30%. AstraZeneca’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 EPS.

Several other equities analysts have also weighed in on AZN. HSBC initiated coverage on shares of AstraZeneca in a report on Monday, December 18th. They issued a “buy” rating on the stock. Jefferies Financial Group cut shares of AstraZeneca from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Morgan Stanley assumed coverage on shares of AstraZeneca in a research report on Tuesday, January 23rd. They set an “overweight” rating for the company. Three 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $80.00.

Check Out Our Latest Stock Analysis on AZN

AstraZeneca Stock Performance

NASDAQ:AZN opened at $66.55 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.79 and a quick ratio of 0.60. The firm has a market capitalization of $206.33 billion, a price-to-earnings ratio of 35.03, a PEG ratio of 1.19 and a beta of 0.52. The company’s 50-day moving average is $66.57 and its two-hundred day moving average is $66.80. AstraZeneca has a 1-year low of $61.73 and a 1-year high of $76.56.

Hedge Funds Weigh In On AstraZeneca

A number of hedge funds have recently made changes to their positions in AZN. First Affirmative Financial Network boosted its position in AstraZeneca by 2.9% in the 3rd quarter. First Affirmative Financial Network now owns 5,495 shares of the company’s stock valued at $372,000 after buying an additional 155 shares during the period. Wrapmanager Inc. boosted its position in AstraZeneca by 4.1% in the 2nd quarter. Wrapmanager Inc. now owns 3,962 shares of the company’s stock valued at $284,000 after buying an additional 157 shares during the period. Private Trust Co. NA boosted its position in AstraZeneca by 7.0% in the 2nd quarter. Private Trust Co. NA now owns 2,479 shares of the company’s stock valued at $177,000 after buying an additional 162 shares during the period. Clearstead Advisors LLC raised its holdings in shares of AstraZeneca by 15.5% in the 3rd quarter. Clearstead Advisors LLC now owns 1,209 shares of the company’s stock valued at $82,000 after purchasing an additional 162 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC raised its holdings in shares of AstraZeneca by 0.3% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 61,866 shares of the company’s stock valued at $4,167,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 15.68% of the company’s stock.

AstraZeneca Company Profile

(Get Free Report)

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, andcommercialization of prescription medicines. The company's marketed products include Calquence, Enhertu, Faslodex, Imfinzi, Iressa, Koselugo, Lumoxiti, Lynparza, Orpathys, Tagrisso, and Zoladex for oncology; Andexxa/Ondexxya, Atacand, Atacand HCT, Atacand Plus, Brilinta/Brilique, Bydureon/Byetta, BCise, Byetta, Crestor, Evrenzo, Farxiga/Forxiga, Komboglyze/Kombiglyze XR, Lokelma, Onglyza, Qtern, Xigduo/Xigduo, and Zestril XR for cardiovascular, renal, and metabolism diseases; Accolate, Accoleit, Vanticon, Bevespi Aerosphere, Breztri Aerosphere, Bricanyl Respules and Turbuhaler, Daliresp/Daxas, Duaklir Genuair, Fasenra, Pulmicort, Rhinocort, Saphnelo, Symbicort, and Tezspire for respiratory and immunology; and Kanuma, Soliris, Strensiq, and Ultomiris for rare diseases.

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Earnings History and Estimates for AstraZeneca (NASDAQ:AZN)

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