Pfizer Inc. (NYSE:PFE) to Post Q2 2024 Earnings of $0.48 Per Share, Leerink Partnrs Forecasts

Pfizer Inc. (NYSE:PFE) – Investment analysts at Leerink Partnrs raised their Q2 2024 earnings per share estimates for shares of Pfizer in a research note issued to investors on Thursday, May 2nd. Leerink Partnrs analyst D. Risinger now forecasts that the biopharmaceutical company will post earnings of $0.48 per share for the quarter, up from their previous forecast of $0.41. The consensus estimate for Pfizer’s current full-year earnings is $2.39 per share. Leerink Partnrs also issued estimates for Pfizer’s Q3 2024 earnings at $0.61 EPS, Q4 2024 earnings at $0.72 EPS, FY2024 earnings at $2.63 EPS, FY2026 earnings at $2.97 EPS and FY2027 earnings at $3.05 EPS.

Pfizer (NYSE:PFE) last announced its quarterly earnings results 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. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The company had revenue of $14.88 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was down 19.5% compared to the same quarter last year.

A number of other analysts have also commented on PFE. Guggenheim initiated coverage on Pfizer in a research note on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective on the stock. Morgan Stanley lifted their price target on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Monday, April 15th. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a report on Thursday. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Pfizer currently has an average rating of “Hold” and an average target price of $36.00.

Pfizer Stock Performance

Pfizer stock opened at $27.81 on Monday. Pfizer has a fifty-two week low of $25.20 and a fifty-two week high of $40.37. The company has a market capitalization of $157.48 billion, a price-to-earnings ratio of -463.42, a PEG ratio of 1.19 and a beta of 0.63. The stock has a fifty day moving average of $26.88 and a two-hundred day moving average of $28.16. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be issued a $0.42 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 6.04%. Pfizer’s payout ratio is -2,799.53%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Disciplined Equity Management Inc. grew its stake in shares of Pfizer by 2,676.8% in the first quarter. Disciplined Equity Management Inc. now owns 66,920 shares of the biopharmaceutical company’s stock valued at $1,857,000 after buying an additional 64,510 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Pfizer by 1.4% in the first quarter. Geneos Wealth Management Inc. now owns 165,277 shares of the biopharmaceutical company’s stock valued at $4,586,000 after acquiring an additional 2,224 shares in the last quarter. Valley Wealth Managers Inc. lifted its position in shares of Pfizer by 27.0% during the first quarter. Valley Wealth Managers Inc. now owns 551,007 shares of the biopharmaceutical company’s stock worth $15,290,000 after purchasing an additional 117,205 shares in the last quarter. WBI Investments LLC purchased a new position in shares of Pfizer in the first quarter valued at $2,792,000. Finally, Buck Wealth Strategies LLC grew its holdings in Pfizer by 1,343.1% during the 1st quarter. Buck Wealth Strategies LLC now owns 295,419 shares of the biopharmaceutical company’s stock valued at $8,198,000 after purchasing an additional 274,948 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

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.