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Astrazeneca (AZN) Dips More Than Broader Markets: What You Should Know

In the latest trading session, Astrazeneca (AZN) closed at $66.28, marking a -1.97% move from the previous day. This change lagged the S&P 500's 0.07% loss on the day. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq lost 3.22%.

Coming into today, shares of the pharmaceutical had lost 0.54% in the past month. In that same time, the Medical sector lost 0.32%, while the S&P 500 gained 4.64%.

Investors will be hoping for strength from Astrazeneca as it approaches its next earnings release. In that report, analysts expect Astrazeneca to post earnings of $0.71 per share. This would mark a year-over-year decline of 15.48%. Meanwhile, our latest consensus estimate is calling for revenue of $11.4 billion, down 5.09% from the prior-year quarter.

Investors should also note any recent changes to analyst estimates for Astrazeneca. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.78% higher. Astrazeneca is currently a Zacks Rank #3 (Hold).

Investors should also note Astrazeneca's current valuation metrics, including its Forward P/E ratio of 18.54. This valuation marks a premium compared to its industry's average Forward P/E of 14.61.

Meanwhile, AZN's PEG ratio is currently 1.24. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. AZN's industry had an average PEG ratio of 1.8 as of yesterday's close.

The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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

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