AstraZeneca (AZN) Announces Quarterly Earnings Results, Beats Estimates By $0.38 EPS

AstraZeneca (NYSE:AZN) released its quarterly earnings data on Thursday. The company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.38, Briefing.com reports. AstraZeneca had a net margin of 11.98% and a return on equity of 29.89%. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same period last year, the firm earned $1.12 EPS. AstraZeneca’s revenue for the quarter was down 14.3% on a year-over-year basis. AstraZeneca updated its FY 2018 guidance to $3.30-3.50 EPS and its FY18 guidance to $3.30-3.50 EPS.

Shares of NYSE:AZN opened at $40.65 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.72 and a debt-to-equity ratio of 1.08. AstraZeneca has a one year low of $31.99 and a one year high of $41.28. The firm has a market capitalization of $97.16 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 2.05 and a beta of 0.57.

Several brokerages have commented on AZN. ValuEngine raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Saturday, July 28th. Zacks Investment Research raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Monday, July 16th. Guggenheim began coverage on shares of AstraZeneca in a report on Monday, October 8th. They issued a “buy” rating for the company. Wolfe Research began coverage on shares of AstraZeneca in a report on Tuesday, October 23rd. They issued an “outperform” rating for the company. Finally, Jefferies Financial Group downgraded shares of AstraZeneca from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $40.34.

In other news, major shareholder Plc Astrazeneca purchased 246,666 shares of the business’s stock in a transaction on Friday, September 28th. The stock was purchased at an average cost of $15.00 per share, with a total value of $3,699,990.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. lifted its holdings in shares of AstraZeneca by 3.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 37,631 shares of the company’s stock worth $1,322,000 after acquiring an additional 1,293 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of AstraZeneca by 11.5% during the 2nd quarter. Signaturefd LLC now owns 13,000 shares of the company’s stock worth $456,000 after acquiring an additional 1,343 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of AstraZeneca by 8.6% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 17,611 shares of the company’s stock worth $618,000 after acquiring an additional 1,396 shares during the last quarter. Greenleaf Trust lifted its holdings in shares of AstraZeneca by 5.9% during the 3rd quarter. Greenleaf Trust now owns 26,606 shares of the company’s stock worth $1,053,000 after acquiring an additional 1,486 shares during the last quarter. Finally, Green Square Capital LLC lifted its holdings in shares of AstraZeneca by 12.3% during the 2nd quarter. Green Square Capital LLC now owns 14,233 shares of the company’s stock worth $500,000 after acquiring an additional 1,558 shares during the last quarter. 16.10% of the stock is owned by institutional investors.

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About AstraZeneca

AstraZeneca PLC discovers, develops, and commercializes prescription medicines for the treatment of oncology, cardiovascular and metabolic, respiratory, gastrointestinal, neuroscience, and infection diseases worldwide. Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor2, Plendil, Seloken/Toprol-XL4, Tenormin5, and Zestril6 for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Qtern, Symlin, Xigduo, and Xigduo XR for metabolic diseases.

Further Reading: Growth Stocks

Earnings History for AstraZeneca (NYSE:AZN)

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