Astrazeneca (AZN) Outperforms Broader Market: What You Need to Know

Astrazeneca (AZN) ended the recent trading session at $75.57, demonstrating a +1.79% swing from the preceding day's closing price. This change outpaced the S&P 500's 0.49% gain on the day. On the other hand, the Dow registered a loss of 0.2%, and the technology-centric Nasdaq increased by 1.22%.Heading into today, shares of the pharmaceutical had gained 2.08% over the past month, outpacing the Medical sector's loss of 1.05% and the S&P 500's loss of 8.15% in that time.Investors will be eagerly watching for the performance of Astrazeneca in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.10, indicating a 6.8% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $13.6 billion, indicating a 7.3% upward movement from the same quarter last year.For the full year, the Zacks Consensus Estimates project earnings of $4.49 per share and a revenue of $57.14 billion, demonstrating changes of +9.25% and +5.67%, respectively, from the preceding year.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Astrazeneca. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.55% downward. At present, Astrazeneca boasts a Zacks Rank of #4 (Sell).Looking at its valuation, Astrazeneca is holding a Forward P/E ratio of 16.53. This valuation marks a discount compared to its industry's average Forward P/E of 18.97.We can additionally observe that AZN currently boasts a PEG ratio of 1.43. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Medical - Biomedical and Genetics industry stood at 1.54 at the close of the market yesterday.The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 30% of all 250+ industries.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AstraZeneca PLC (AZN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks