Astrazeneca (AZN) Rises Yet Lags Behind Market: Some Facts Worth Knowing
In the latest trading session, Astrazeneca (AZN) closed at $66.52, marking a +0.41% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.88%. At the same time, the Dow added 0.54%, and the tech-heavy Nasdaq gained 1.35%.
Heading into today, shares of the pharmaceutical had gained 0.71% over the past month, lagging the Medical sector's gain of 3.45% and outpacing the S&P 500's gain of 0.64% in that time.
Market participants will be closely following the financial results of Astrazeneca in its upcoming release. The company's upcoming EPS is projected at $0.79, signifying a 14.49% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $12.1 billion, up 8% from the prior-year quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Astrazeneca. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.2% upward. Currently, Astrazeneca is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Astrazeneca is currently being traded at a Forward P/E ratio of 15.84. Its industry sports an average Forward P/E of 14.48, so one might conclude that Astrazeneca is trading at a premium comparatively.
Investors should also note that AZN has a PEG ratio of 1.17 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 1.81.
The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 69, positioning it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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AstraZeneca PLC (AZN) : Free Stock Analysis Report
