Astrazeneca PLC (AZN) Expected to Post Quarterly Sales of $5.66 Billion
Brokerages expect that Astrazeneca PLC (NYSE:AZN) will announce $5.66 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Astrazeneca PLC’s earnings, with the highest sales estimate coming in at $5.91 billion and the lowest estimate coming in at $5.36 billion. Astrazeneca PLC reported sales of $5.70 billion during the same quarter last year, which indicates a negative year over year growth rate of 0.7%. The firm is scheduled to issue its next earnings report before the market opens on Thursday, November 9th.
According to Zacks, analysts expect that Astrazeneca PLC will report full year sales of $5.66 billion for the current financial year, with estimates ranging from $20.03 billion to $22.48 billion. For the next fiscal year, analysts forecast that the firm will post sales of $21.87 billion per share, with estimates ranging from $20.47 billion to $23.93 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Astrazeneca PLC.
A number of brokerages recently commented on AZN. BMO Capital Markets set a $38.00 price objective on Astrazeneca PLC and gave the stock a “buy” rating in a research report on Tuesday. Piper Jaffray Companies reissued a “buy” rating on shares of Astrazeneca PLC in a research note on Wednesday, August 9th. BidaskClub cut Astrazeneca PLC from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Leerink Swann boosted their target price on Astrazeneca PLC from $31.00 to $34.00 and gave the stock a “market perform” rating in a research note on Monday, October 23rd. Finally, Cowen and Company reaffirmed a “hold” rating and set a $37.00 price target on shares of Astrazeneca PLC in a report on Tuesday, October 17th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $35.10.
WARNING: This piece of content was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/11/02/astrazeneca-plc-azn-expected-to-post-quarterly-sales-of-5-66-billion.html.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. bought a new stake in shares of Astrazeneca PLC during the second quarter valued at approximately $105,000. WFG Advisors LP raised its holdings in shares of Astrazeneca PLC by 36.0% during the second quarter. WFG Advisors LP now owns 3,716 shares of the company’s stock valued at $127,000 after buying an additional 984 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Astrazeneca PLC by 71.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,252 shares of the company’s stock valued at $145,000 after buying an additional 1,769 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Astrazeneca PLC by 18.4% during the second quarter. Quadrant Capital Group LLC now owns 5,437 shares of the company’s stock valued at $147,000 after buying an additional 846 shares during the last quarter. Finally, Westport Asset Management Inc. bought a new stake in shares of Astrazeneca PLC during the second quarter valued at approximately $170,000. 14.18% of the stock is currently owned by hedge funds and other institutional investors.
About Astrazeneca PLC
AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Astrazeneca PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astrazeneca PLC and related companies with MarketBeat.com's FREE daily email newsletter.