Shore Capital Reaffirms “Buy” Rating for AstraZeneca (LON:AZN)

Shore Capital restated their buy rating on shares of AstraZeneca (LON:AZN) in a research note issued to investors on Thursday, Marketbeat reports.

AZN has been the subject of several other reports. Berenberg Bank raised their target price on shares of AstraZeneca from £130 ($168.13) to £150 ($194.00) and gave the stock a buy rating in a research report on Friday, June 7th. JPMorgan Chase & Co. reissued an overweight rating on shares of AstraZeneca in a research note on Tuesday, June 4th. Barclays reissued an overweight rating and issued a £125 ($161.67) price target on shares of AstraZeneca in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft restated a hold rating and set a £110 ($142.27) price target on shares of AstraZeneca in a report on Tuesday, June 18th. Finally, Citigroup reaffirmed a buy rating on shares of AstraZeneca in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of £105.53 ($136.49).

AstraZeneca Price Performance

Shares of AstraZeneca stock opened at £121.80 ($157.53) on Thursday. The company’s fifty day simple moving average is £122.73 and its two-hundred day simple moving average is £112.96. AstraZeneca has a 12-month low of GBX 9,461 ($122.36) and a 12-month high of £127.04 ($164.30). The firm has a market cap of £188.79 billion, a PE ratio of 3,903.85, a price-to-earnings-growth ratio of 0.97 and a beta of 0.16. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 92.51.

AstraZeneca Cuts Dividend

The firm also recently announced a dividend, which will be paid on Monday, September 9th. Investors of record on Thursday, August 8th will be paid a dividend of GBX 77.60 ($1.00) per share. This represents a yield of 0.64%. The ex-dividend date is Thursday, August 8th. AstraZeneca’s dividend payout ratio (DPR) is presently 7,307.69%.

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.