Astrazeneca (AZN) closed at $59.70 in the latest trading session, marking a -0.25% move from the prior day. This change was narrower than the S&P 500’s daily loss of 2.5%. Meanwhile, the Dow lost 1.55%, and the Nasdaq, a tech-heavy index, lost 0.19%.

Prior to today’s trading, shares of the pharmaceutical had gained 4.93% over the past month. This has lagged the Medical sector’s gain of 8.65% and the S&P 500’s gain of 7.7% in that time.

Astrazeneca will be looking to display strength as it nears its next earnings release, which is expected to be November 10, 2022. The company is expected to report EPS of $0.77, up 42.59% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.98 billion, up 11.26% from the year-ago period.

AZN’s full-year Zacks Consensus Estimates are calling for earnings of $3.32 per share and revenue of $44.5 billion. These results would represent year-over-year changes of +25.28% and +18.92%, respectively.

Investors should also note any recent changes to analyst estimates for Astrazeneca. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.3% higher. Astrazeneca is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note Astrazeneca’s current valuation metrics, including its Forward P/E ratio of 18.04. This valuation marks a premium compared to its industry’s average Forward P/E of 13.47.

Investors should also note that AZN has a PEG ratio of 1.13 right now. 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. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.77 based on yesterday’s closing prices.

The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 22% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow AZN in the coming trading sessions, be sure to utilize Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source: Nasdaq

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