Pfizer (NYSE:PFE) Issues Earnings Results

by · The Markets Daily

Pfizer (NYSE:PFE – Get Free Report) released its quarterly earnings data on Tuesday. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42, Briefing.com reports. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period last year, the business posted ($0.17) EPS. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. Pfizer updated its FY 2024 guidance to 2.750-2.950 EPS and its FY24 guidance to $2.75-$2.95 EPS.

Pfizer Stock Down 0.3 %

NYSE:PFE opened at $28.38 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer has a 1-year low of $25.20 and a 1-year high of $31.54. The business’s fifty day moving average price is $29.07 and its 200 day moving average price is $28.56. The firm has a market capitalization of $160.82 billion, a price-to-earnings ratio of -61.89, a PEG ratio of 0.99 and a beta of 0.67.

Pfizer Dividend Announcement

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 given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently -365.21%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. Barclays raised their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Citigroup assumed coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Finally, Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Pfizer has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Read Our Latest Stock Report on PFE

About Pfizer

(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.

Further Reading