Pfizer (NYSE:PFE) Releases FY 2024 Earnings Guidance

by · The Markets Daily

Pfizer (NYSE:PFE – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.750-2.950 for the period, compared to the consensus earnings per share estimate of 2.650. The company issued revenue guidance of $61.0 billion-$64.0 billion, compared to the consensus revenue estimate of $61.2 billion. Pfizer also updated its FY24 guidance to $2.75-$2.95 EPS.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wells Fargo & Company upped their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Sanford C. Bernstein assumed coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and an average price target of $33.58.

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Pfizer Stock Performance

NYSE PFE traded down $0.64 during trading on Tuesday, reaching $28.22. The company’s stock had a trading volume of 51,458,078 shares, compared to its average volume of 36,924,527. The business’s fifty day moving average price is $29.08 and its 200-day moving average price is $28.54. Pfizer has a twelve month low of $25.20 and a twelve month high of $31.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm has a market cap of $159.91 billion, a price-to-earnings ratio of -61.22, a P/E/G ratio of 0.99 and a beta of 0.67.

Pfizer (NYSE:PFE – Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts anticipate that Pfizer will post 2.67 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.95%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is currently -365.21%.

Pfizer Company Profile

(Get Free Report)

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.

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