Leerink Swann Comments on AstraZeneca plc’s FY2019 Earnings (AZN)

AstraZeneca plc (NYSE:AZN) – Stock analysts at Leerink Swann cut their FY2019 earnings per share estimates for shares of AstraZeneca in a research report issued to clients and investors on Monday. Leerink Swann analyst S. Fernandez now expects that the company will post earnings of $1.79 per share for the year, down from their previous estimate of $1.87. Leerink Swann has a “Market Perform” rating and a $38.00 price objective on the stock. Leerink Swann also issued estimates for AstraZeneca’s FY2020 earnings at $2.17 EPS.

AstraZeneca (NYSE:AZN) last announced its earnings results on Friday, February 2nd. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.86. AstraZeneca had a return on equity of 34.74% and a net margin of 13.36%. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the previous year, the business earned $1.21 EPS. The company’s revenue was up 3.4% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets reiterated a “buy” rating and issued a $38.00 price objective on shares of AstraZeneca in a research note on Tuesday, November 7th. Sanford C. Bernstein upped their price objective on AstraZeneca from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday. Citigroup upgraded AstraZeneca to a “buy” rating in a research note on Wednesday, October 18th. ValuEngine upgraded AstraZeneca from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 3rd. Finally, Zacks Investment Research upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research note on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. AstraZeneca has an average rating of “Hold” and a consensus price target of $35.20.

Shares of AstraZeneca (AZN) traded up $0.20 during midday trading on Thursday, hitting $34.10. The stock had a trading volume of 8,074,355 shares, compared to its average volume of 4,436,389. AstraZeneca has a 12-month low of $28.43 and a 12-month high of $36.70. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.80 and a quick ratio of 0.72. The stock has a market cap of $86,380.00, a P/E ratio of 29.17, a PEG ratio of 2.15 and a beta of 0.74.

The firm also recently announced a semiannual dividend, which will be paid on Monday, March 19th. Shareholders of record on Friday, February 16th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a yield of 5.62%. AstraZeneca’s payout ratio is 116.10%.

A number of hedge funds have recently modified their holdings of AZN. WFG Advisors LP increased its holdings in shares of AstraZeneca by 36.0% in the second quarter. WFG Advisors LP now owns 3,716 shares of the company’s stock worth $127,000 after purchasing an additional 984 shares during the period. Valeo Financial Advisors LLC bought a new position in shares of AstraZeneca in the third quarter worth $133,000. Quadrant Capital Group LLC increased its holdings in shares of AstraZeneca by 18.4% in the second quarter. Quadrant Capital Group LLC now owns 5,437 shares of the company’s stock worth $147,000 after purchasing an additional 846 shares during the period. Calton & Associates Inc. bought a new position in shares of AstraZeneca in the fourth quarter worth $181,000. Finally, Wealthcare Advisory Partners LLC bought a new position in shares of AstraZeneca in the third quarter worth $184,000. 14.79% of the stock is currently owned by institutional investors and hedge funds.

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AstraZeneca Company Profile

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.

Earnings History and Estimates for AstraZeneca (NYSE:AZN)

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