Pfizer (NYSE:PFE) Updates FY 2024 Earnings Guidance

Pfizer (NYSE:PFE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.750-2.950 for the period, compared to the consensus EPS 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 Performance

NYSE:PFE opened at $25.77 on Friday. 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 has a twelve month low of $24.48 and a twelve month high of $31.54. The firm has a market capitalization of $146.04 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 0.63 and a beta of 0.65. The firm’s fifty day simple moving average is $26.88 and its 200 day simple moving average is $28.20.

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

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 24th. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.67%. Pfizer’s dividend payout ratio is currently 232.43%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Guggenheim lowered their price target on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Wolfe Research started coverage on shares of Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, Truist Financial decreased their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.14.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

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.