In the latest trading session, Astrazeneca (AZN) closed at $52.44, marking a -1.11% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.63%. Elsewhere, the Dow lost 1.44%, while the tech-heavy Nasdaq lost 1.65%.Heading into today, shares of the pharmaceutical had lost 5.2% over the past month, lagging the Medical sector's gain of 0.14% and the S&P 500's gain of 2.86% in that time.AZN will be looking to display strength as it nears its next earnings release, which is expected to be November 5, 2020. In that report, analysts expect AZN to post earnings of $0.49 per share. This would mark a year-over-year decline of 2%. Meanwhile, our latest consensus estimate is calling for revenue of $6.53 billion, up 1.94% from the prior-year quarter.For the full year, our Zacks Consensus Estimates are projecting earnings of $2.02 per share and revenue of $26.31 billion, which would represent changes of +15.43% and +7.89%, respectively, from the prior year.It is also important to note the recent changes to analyst estimates for AZN. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.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 0.59% lower. AZN is currently a Zacks Rank #3 (Hold).Looking at its valuation, AZN is holding a Forward P/E ratio of 26.31. For comparison, its industry has an average Forward P/E of 14.23, which means AZN is trading at a premium to the group.Meanwhile, AZN's PEG ratio is currently 1.59. 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. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.97 at yesterday's closing price.The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 118, putting it in the top 47% 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.Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.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 AstraZeneca PLC (AZN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research