AstraZeneca (AZN) Announces Quarterly Earnings Results, Beats Expectations By $0.20 EPS

AstraZeneca (NYSE:AZN) issued its earnings results on Friday. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.20, Morningstar.com reports. AstraZeneca had a net margin of 13.36% and a return on equity of 34.74%. The business had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same period last year, the business posted $0.99 EPS. AstraZeneca’s revenue was down 4.2% on a year-over-year basis. AstraZeneca updated its FY18 guidance to $3.30-3.50 EPS.

Shares of AZN stock opened at $36.33 on Friday. AstraZeneca has a 12-month low of $28.43 and a 12-month high of $36.75. The company has a market cap of $92.02 billion, a price-to-earnings ratio of 8.49, a P/E/G ratio of 1.93 and a beta of 0.61. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.80 and a quick ratio of 0.62.

Several equities research analysts recently issued reports on the stock. BMO Capital Markets set a $40.00 target price on shares of AstraZeneca and gave the company a “buy” rating in a research note on Thursday, March 22nd. Leerink Swann raised their price objective on shares of AstraZeneca from $36.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 6th. Sanford C. Bernstein raised their price objective on shares of AstraZeneca from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Zacks Investment Research upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Monday, January 22nd. Finally, ValuEngine upgraded shares of AstraZeneca from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 3rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.12.

Several institutional investors and hedge funds have recently made changes to their positions in the company. CIBC World Markets Inc. increased its holdings in shares of AstraZeneca by 137.7% during the first quarter. CIBC World Markets Inc. now owns 86,349 shares of the company’s stock worth $3,020,000 after purchasing an additional 50,024 shares during the period. Highbridge Capital Management LLC bought a new position in shares of AstraZeneca during the first quarter worth approximately $525,000. Millennium Management LLC increased its holdings in shares of AstraZeneca by 53.6% during the first quarter. Millennium Management LLC now owns 2,152,762 shares of the company’s stock worth $75,282,000 after purchasing an additional 751,610 shares during the period. Nexthera Capital LP increased its holdings in shares of AstraZeneca by 3.7% during the first quarter. Nexthera Capital LP now owns 484,000 shares of the company’s stock worth $16,925,000 after purchasing an additional 17,400 shares during the period. Finally, PointState Capital LP bought a new position in shares of AstraZeneca during the first quarter worth approximately $10,047,000. 15.18% of the stock is currently owned by institutional investors.

AstraZeneca Company Profile

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.

Earnings History for AstraZeneca (NYSE:AZN)

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