AstraZeneca shares closed up 2.25% at $163.78, outpacing a 0.48% decline in the S&P 500, a 0.29% drop in the Dow and a 0.56% loss on the Nasdaq. Investors are focused on the pharmaceutical company's upcoming earnings release, with consensus estimates calling for earnings of $2.17 per share, down 8.82% from the prior-year quarter, and revenue of $16.07 billion, up 5.82%. For the full year, the Zacks Consensus Estimates project earnings of $9.34 per share and revenue of $62.93 billion, representing shifts of +1.97% and +7.14% respectively from last year. Over the past 30 days the consensus EPS estimate has fallen 8.49%, and AstraZeneca currently carries a Zacks Rank of #4 (Sell). The stock trades at a forward P/E of 17.14, a discount to its industry average of 20.57, with a PEG ratio of 1.36 versus an industry average of 1.87.
AstraZeneca PLCShares rose 2.25% ahead of earnings, but consensus EPS estimates have been cut 8.49% and the stock carries a Zacks Rank #4 (Sell), making the setup mixed.
