Q1 2024 EPS Estimates for AstraZeneca PLC Lowered by Leerink Partnrs (NASDAQ:AZN)

AstraZeneca PLC (NASDAQ:AZN - Free Report) - Leerink Partnrs decreased their Q1 2024 EPS estimates for shares of AstraZeneca in a research note issued to investors on Wednesday, April 24th. Leerink Partnrs analyst A. Berens now expects that the company will post earnings per share of $0.95 for the quarter, down from their previous estimate of $0.96. The consensus estimate for AstraZeneca's current full-year earnings is $4.00 per share. Leerink Partnrs also issued estimates for AstraZeneca's Q2 2024 earnings at $1.03 EPS, Q3 2024 earnings at $1.07 EPS, Q4 2024 earnings at $1.07 EPS and FY2024 earnings at $4.12 EPS.

A number of other brokerages also recently weighed in on AZN. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a "sell" rating to a "hold" rating in a research note on Tuesday, April 16th. BMO Capital Markets lifted their target price on shares of AstraZeneca from $80.00 to $82.00 and gave the stock an "outperform" rating in a research note on Friday. Jefferies Financial Group downgraded shares of AstraZeneca from a "buy" rating to a "hold" rating in a research note on Wednesday, January 3rd. Finally, Morgan Stanley began coverage on shares of AstraZeneca in a report on Tuesday, January 23rd. They issued an "overweight" rating for the company. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $81.00.

AstraZeneca Trading Up 0.2 %

Shares of AZN stock traded up $0.14 during trading hours on Friday, hitting $75.17. 6,687,806 shares of the company's stock traded hands, compared to its average volume of 6,265,456. The stock's 50 day simple moving average is $67.27 and its 200 day simple moving average is $66.07. The stock has a market cap of $233.06 billion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 1.31 and a beta of 0.50. AstraZeneca has a 12 month low of $60.47 and a 12 month high of $75.81. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.57.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.01). The company had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $12.07 billion. AstraZeneca had a net margin of 13.00% and a return on equity of 30.19%. AstraZeneca's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 EPS.

Hedge Funds Weigh In On AstraZeneca

Several institutional investors and hedge funds have recently made changes to their positions in AZN. Sanders Capital LLC purchased a new stake in AstraZeneca during the 3rd quarter valued at $715,198,000. Norges Bank purchased a new stake in shares of AstraZeneca in the 4th quarter worth about $143,999,000. Manning & Napier Group LLC lifted its position in shares of AstraZeneca by 281.2% in the 4th quarter. Manning & Napier Group LLC now owns 2,779,212 shares of the company's stock worth $187,180,000 after purchasing an additional 2,050,064 shares during the period. Clearbridge Investments LLC lifted its position in shares of AstraZeneca by 118.9% in the 4th quarter. Clearbridge Investments LLC now owns 3,592,447 shares of the company's stock worth $241,951,000 after purchasing an additional 1,951,591 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of AstraZeneca by 5.2% in the 3rd quarter. Jennison Associates LLC now owns 22,946,504 shares of the company's stock worth $1,553,937,000 after purchasing an additional 1,139,295 shares during the period. Institutional investors own 20.35% of the company's stock.

AstraZeneca Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Monday, March 25th. Investors of record on Friday, February 23rd were issued a dividend of $0.965 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a dividend yield of 2.3%. This is a positive change from AstraZeneca's previous Semi-Annual dividend of $0.47. AstraZeneca's dividend payout ratio (DPR) is currently 100.52%.

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.