Pfizer (NYSE:PFE) Releases FY24 Earnings Guidance

Pfizer (NYSE:PFE) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $2.15-2.35 for the period, compared to the consensus EPS estimate of $2.21. The company issued revenue guidance of $58.5-61.5 billion, compared to the consensus revenue estimate of $59.94 billion. Pfizer also updated its FY 2024 guidance to 2.150-2.350 EPS.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Guggenheim began coverage on Pfizer in a research report on Friday, February 23rd. They issued a buy rating and a $36.00 price target for the company. Cantor Fitzgerald restated an overweight rating and set a $45.00 target price on shares of Pfizer in a research report on Monday, April 15th. BMO Capital Markets reiterated an outperform rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a research report on Thursday. Argus downgraded Pfizer from a buy rating to a hold rating in a research report on Friday, March 22nd. Finally, Morgan Stanley upped their price objective on Pfizer from $28.00 to $29.00 and gave the company an equal weight rating in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Pfizer presently has a consensus rating of Hold and an average target price of $36.00.

Pfizer Trading Up 0.4 %

Pfizer stock traded up $0.11 during trading on Friday, reaching $27.81. The company had a trading volume of 60,568,852 shares, compared to its average volume of 41,900,304. Pfizer has a 12-month low of $25.20 and a 12-month high of $40.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91. The stock’s 50 day moving average price is $26.88 and its two-hundred day moving average price is $28.21. The firm has a market capitalization of $157.48 billion, a price-to-earnings ratio of -463.42, a PEG ratio of 1.18 and a beta of 0.63.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The business’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 EPS. As a group, equities analysts expect that Pfizer will post 2.36 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s payout ratio is currently -2,799.53%.

Pfizer Company Profile

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.