AstraZeneca (NASDAQ:AZN) Announces Earnings Results

Key Points

• AstraZeneca reported $1.09 earnings per share for the quarter, meeting analysts' expectations, alongside a revenue of $14.46 billion, surpassing estimates of $14.08 billion.
• The company's net margin stood at 14.14%, with a year-over-year revenue increase of 16.1%.
• AstraZeneca has announced a semi-annual dividend of $0.505, reflecting a yield of 2%, while its payout ratio is 82.73%.

AstraZeneca (NASDAQ:AZN - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $1.09 EPS for the quarter, meeting the consensus estimate of $1.09, Zacks reports. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.08 billion. During the same quarter in the previous year, the firm earned $1.24 EPS. AstraZeneca's quarterly revenue was up 16.1% on a year-over-year basis.

AstraZeneca Price Performance

Shares of NASDAQ AZN traded up $0.60 during trading on Friday, reaching $73.69. The company had a trading volume of 7,242,413 shares, compared to its average volume of 5,406,167. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 0.86. The business's 50 day moving average price is $71.48 and its 200-day moving average price is $71.31. AstraZeneca has a 52 week low of $61.24 and a 52 week high of $87.68. The stock has a market cap of $228.52 billion, a PE ratio of 27.70, a PEG ratio of 1.41 and a beta of 0.37.

AstraZeneca Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, September 8th. Shareholders of record on Friday, August 8th will be paid a $0.505 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca's payout ratio is currently 37.97%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. BNP Paribas assumed coverage on shares of AstraZeneca in a research report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 target price for the company. Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a report on Wednesday, July 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $89.00.

Institutional Inflows and Outflows

An institutional investor recently raised its position in AstraZeneca stock. AQR Capital Management LLC increased its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 45.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,501 shares of the company's stock after acquiring an additional 11,690 shares during the quarter. AQR Capital Management LLC's holdings in AstraZeneca were worth $2,756,000 at the end of the most recent quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Company Profile

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company's marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.