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AstraZeneca share price: what to expect from full year results

In this article we find out what we can expect from the upcoming AstraZeneca results, how they could affect the company share price as well as how to trade the earnings.

When is AstraZeneca earnings date?

The AstraZeneca earnings release date is scheduled for the 11 February 2021. The results will cover the groups fourth quarter (Q4) and full year (FY) earnings.

AstraZeneca results preview: what does the Street expect?

Forward guidance from AstraZeneca has indicated that the group expects total revenue for FY20 to increase by a high single-digit to a low double-digit percentage. Core earnings per share (EPS) are expected to increase by between 15% and 19%.

In terms of the group’s primary divisions, oncology (the largest source of group revenue) is expected to lead sales gains (>20%) over the period, while revenue from new cardiovascular, renal and metabolism (CVRM) is expected to produce mid to high single digit growth. The respiratory and immunology division is expected to see flat to muted gains.

Consensus estimates as sourced from Refinitiv arrive at the following in terms of the groups upcoming results:

  • FY20 revenue $26,323 billion expected from $24,383 billion realized in FY19
  • FY20 EPS of $4.03 expected from $3.50 realized in FY19

How to trade the AstraZeneca results

The two graphics below provide traders with both a retail short-term view on the stock, as well as an institutional longer-term view on the AstraZeneca share price, as to how market participants are positioned ahead of the full year earnings release.

A Thomson Reuters poll of 27 analysts maintain a long-term average rating of ‘buy’ for AstraZeneca (as of 9 February 2021), with 11 of these analysts recommending a strong buy, ten recommending a buy, four hold, one sell and one strong sell recommendation on the stock.

From a retail trader perspective (as of 9 February 2021), 100% of IG clients with open positions on the AstraZeneca expect the share price to rise over the near term, while 0% of IG clients with open positions expect the price to fall.

AstraZeneca share price: technical analysis

The share price of AstraZeneca currently trades near support of a short- to medium-term range between levels 7180 (support) and 7800 (resistance). While the price trades near range support the stochastic oscillator is also suggesting the price to currently be in oversold territory as well.

Range traders might hope for a bullish price reversal at current support to be accompanied by a move out of oversold territory as extra confirmation. In this scenario a move back to resistance at 7800 is favoured while a close below the reversal low may be used as a stop loss consideration for the trade.

Should a bullish reversal not manifest and instead a break of range support (confirmed with a close) ensue, 6630 becomes the next downside support target from the move.

In summary

  • AstraZeneca full year results are scheduled for release on the 11 February 2021
  • Group revenue for FY20 is expected to have increased by around 7.85% year-on-year (YoY)
  • EPS are expected to have increased by 15.15% from the previous year
  • The average long-term broker rating for AstraZeneca is ‘buy’
  • IG clients with open positions on AstraZeneca expect the price to rise in the near term
  • A technical analysis view on the company shows a short-term range trading environment at present

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

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