AstraZeneca Earnings: AZN Stock Zooms Higher on Q4 Beat
AstraZeneca earnings for the fourth quarter of 2018 has AZN stock heading higher on Thursday.
AstraZeneca (NYSE:AZN) reported earnings per share of $1.58 for the fourth quarter of the year. This is an increase over the company’s earnings per share of 65 cents from the same time in 2017. It was also a boon to AZN stock by coming in above Wall Street’s earnings per share estimate of 76 cents for the quarter.
AstraZeneca earnings for the fourth quarter of 2018 also has operating income coming in at $1.08 billion. This represents a 54% increase over the company’s operating income from the same period of the year prior.
The AstraZeneca earnings report for the fourth quarter of the year also includes revenue of $6.42 billion. This is 14% higher than the company’s revenue from the fourth quarter of the previous year. It also beats out analysts’ revenue estimate of $6.27 billion for the period, making it a blessing to AZN stock.
The good news for AZN stock continues in the most recent AstraZeneca earnings report with its guidance for 2019. The company says it is expecting earnings per share for the year to range from $3.50 to $3.70. Wall Street is looking for the pharmaceutical company to report revenue of $1.64 for the full year of 2019.
“2019 will be a year of focus on continued pipeline delivery and flawless commercial execution,” Pascal Soriot, CEO of AstraZeneca, said in a statement. “The performance of our new medicines demonstrated the ability of our commercial teams to convert the pipeline into successful medicines.”
AZN stock was up 9% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
Strength Seen in AstraZeneca (AZN): Stock Soars 9.3%
AstraZeneca PLC AZN was a big mover last session, as the company saw its shares rise more than 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $35.49 to $37.20 in the past one-month time frame.
The move came after the company reported better-than-expected fourth-quarter 2018 results.
The company has seen two negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
AstraZeneca currently has a Zacks Rank #2 (Buy) while its Earnings ESP is positive.
AstraZeneca PLC Price
AstraZeneca PLC Price | AstraZeneca PLC Quote
Investors interested in the Large Cap Pharmaceuticals industry may consider Bristol-Myers Squibb Company BMY, which has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is AZN going up? Or down? Predict to see what others think: Up or Down
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, wouldn't you like to know about our 10 finest buy-and-holds for the year?
From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 – 2017, they soared far above the market's +126.3%, reaching +181.9%.
This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
See Stocks Today >>
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 Bristol-Myers Squibb Company (BMY) : Free Stock Analysis Report AstraZeneca PLC (AZN) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
No comments:
Post a Comment