AstraZeneca (NASDAQ:AZN) Releases Earnings Results, Beats Estimates By $0.03 EPS

AstraZeneca (NASDAQ:AZN) issued its quarterly earnings results on Tuesday. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03, Zacks reports. AstraZeneca had a return on equity of 30.41% and a net margin of 12.68%. The firm had revenue of $13.57 billion for the quarter, compared to the consensus estimate of $13.08 billion. During the same period in the prior year, the business posted $0.87 earnings per share. The company’s revenue for the quarter was up 18.0% on a year-over-year basis.

AstraZeneca Stock Up 1.0 %

Shares of NASDAQ:AZN traded up $0.63 during trading hours on Thursday, hitting $65.92. The company’s stock had a trading volume of 4,855,699 shares, compared to its average volume of 5,242,594. The firm’s fifty day moving average price is $75.79 and its 200 day moving average price is $78.38. AstraZeneca has a 52 week low of $60.47 and a 52 week high of $87.68. The company has a market capitalization of $204.39 billion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 1.21 and a beta of 0.47. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.69.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, TD Cowen upped their target price on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $89.75.

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.