Pfizer (NYSE:PFE) Updates FY24 Earnings Guidance

by · The Markets Daily

Pfizer (NYSE:PFE – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.75-$2.95 for the period, compared to the consensus earnings per share estimate of $2.66. The company issued revenue guidance of $61.0-$64.0 billion, compared to the consensus revenue estimate of $61.13 billion. Pfizer also updated its FY 2024 guidance to 2.750-2.950 EPS.

Analysts Set New Price Targets

PFE has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company lifted their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Barclays lifted their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, UBS Group lifted their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.58.

Get Our Latest Research Report on PFE

Pfizer Stock Performance

Shares of NYSE PFE traded down $0.23 during midday trading on Thursday, hitting $28.29. The company’s stock had a trading volume of 37,873,916 shares, compared to its average volume of 37,217,828. Pfizer has a 1-year low of $25.20 and a 1-year high of $31.54. The firm’s fifty day moving average price is $29.06 and its 200-day moving average price is $28.56. 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 $160.31 billion, a P/E ratio of 38.38, a P/E/G ratio of 0.99 and a beta of 0.67.

Pfizer (NYSE:PFE – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same period in the previous year, the business posted ($0.17) EPS. The company’s quarterly revenue was up 31.2% on a year-over-year basis. On average, sell-side analysts forecast that Pfizer will post 2.67 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 5.94%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Insider Activity

In other news, Director Scott Gottlieb bought 1,000 shares of Pfizer stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

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.

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