AstraZeneca (NASDAQ:AZN) Issues Quarterly Earnings Results

AstraZeneca (NASDAQ:AZN) released its quarterly earnings results on Thursday. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01, Zacks reports. AstraZeneca had a net margin of 13.11% and a return on equity of 29.66%. The firm had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter last year, the firm earned $1.08 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis.

AstraZeneca Trading Down 0.5 %

AZN opened at $78.13 on Friday. AstraZeneca has a fifty-two week low of $60.47 and a fifty-two week high of $80.86. The firm has a market capitalization of $242.25 billion, a PE ratio of 38.30, a P/E/G ratio of 1.41 and a beta of 0.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.89 and a quick ratio of 0.70. The company’s 50-day moving average is $78.54 and its 200 day moving average is $71.94.

AstraZeneca Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Monday, September 9th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.49 per share. The ex-dividend date is Friday, August 9th. AstraZeneca’s dividend payout ratio is currently 94.61%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. The Goldman Sachs Group began coverage on AstraZeneca in a research report on Thursday, May 30th. They set a “buy” rating and a $97.00 target price for the company. Argus raised their price objective on AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. BMO Capital Markets upped their target price on AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Barclays upgraded shares of AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Finally, Citigroup raised shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, AstraZeneca currently has an average rating of “Buy” and an average price target of $88.00.

About AstraZeneca

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.