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AstraZeneca share price: Q1 2022 results preview


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Astrazeneca Q1 results are expected to see revenue and earnings growth despite slowing Covid-19 vaccine sales.

bg_astrazeneca_vaccine_370900526.jpgSource: Bloomberg
 
 Shaun Murison | Senior Market Analyst, Johannesburg | Publication date: Tuesday 26 April 2022 

When are the AstraZeneca results?

The AstraZeneca the biopharmaceutical company, earnings release date is scheduled for 29 April 2022. The scheduled results will cover the groups first fiscal quarter of the year quarter one (Q1) 2022 ending March 2022.

What to expect from AstraZeneca results?

Unlike competitors Pfizer and Moderna, Astrazeneca has previously (in 2021) only offered its Covid-19 vaccine for non-profit. The year 2022 will however see the group selling its vaccine at varying (to maintain affordability), but marginal profit levels. This is expected to help add to bottom lines, although sales of the preventative Covid-19 treatment is expected to wane as the ‘pandemic’ moves to ‘endemic’ stage. Take-up of the vaccine is expected to remain strong in middle income jurisdictions such as Latin America, Southeast Asia, and the Middle East.

Revenue and earnings for the group are guided to be supported by new drugs for cancer, kidney and rare diseases. Last years acquisition of Alexon will see this quarter reflecting earnings thereto not reflected in the prio year’s comparative.

Consensus estimates from Refinitiv data arrives at the following expectations for quarter two (Q2) 2021:

How to trade AstraZeneca results

A Refinitiv poll of 31 analysts maintain a long-term average rating of ‘buy’ for AstraZeneca (as of 22 April 2022), with eight of these analysts recommending a strong buy, 20 recommending a buy 2 hold and 1 sell recommendation on the stock.

Analyst per levelSource: Refinitiv

AstraZeneca share price: Technical Analysis View

AstraZeneca chartSource: IG Charts

The share price of AstraZeneca remains in a long-term uptrend. In the short term, we are seeing a correction of the long-term uptrend from what was overbought territory.

In lieu of the primary trend still being up, our preference remains in keeping a long bias to trades on the stock. The pullback from highs sees the 9460 as a possible downside target from the move. We are looking for a bullish price reversal before the 9460 level for long entry, with 10910 the upside target.

Summary

  • AstraZeneca results are scheduled for release on 29 April 2022
  • Q2 2022 revenue of $10.792 : +47.3% (YoY) expected
  • Q1 2022 EBITDA of $3.696 billion : +11.2% (YoY) expected
  • EPS of $1.71 : +4.98 (YoY) is expected
  • The average broker rating for AstraZeneca is ‘buy’
  • The AstraZeneca share price is currently in a short-term correction of a longer-term uptrend

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