Pfizer (NYSE:PFE) Issues FY 2024 Earnings Guidance

Pfizer (NYSE:PFE) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.750-2.950 for the period, compared to the consensus estimate of 2.930. The company issued revenue guidance of $61.0 billion-$64.0 billion, compared to the consensus revenue estimate of $62.9 billion.

Pfizer Stock Down 2.0 %

PFE opened at $25.89 on Thursday. Pfizer has a 1-year low of $24.48 and a 1-year high of $31.54. The firm’s 50 day simple moving average is $26.95 and its two-hundred day simple moving average is $28.22. The company has a market capitalization of $146.72 billion, a PE ratio of 34.99, a PEG ratio of 0.63 and a beta of 0.65. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the previous year, the firm earned ($0.17) EPS. The business’s quarterly revenue was up 31.2% on a year-over-year basis. As a group, equities analysts forecast that Pfizer will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.64%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio is presently 232.43%.

Analysts Set New Price Targets

PFE has been the topic of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Guggenheim cut their price objective on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Citigroup initiated coverage on Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. Finally, Bank of America restated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.14.

Insider Buying and Selling

In other news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

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.