Pfizer (NYSE:PFE) Issues FY 2024 Earnings Guidance

Pfizer (NYSE:PFE) updated its FY 2024 earnings guidance on Wednesday. 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wolfe Research started coverage on Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target for the company. Evercore ISI raised Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Finally, Guggenheim decreased their target price on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Pfizer has an average rating of “Hold” and an average target price of $32.15.

Pfizer Trading Up 4.6 %

Shares of Pfizer stock opened at $26.42 on Wednesday. The stock has a market capitalization of $149.72 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65. Pfizer has a 52 week low of $24.48 and a 52 week high of $31.54. The stock has a 50 day moving average price of $27.03 and a two-hundred day moving average price of $28.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

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

Pfizer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $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 hyperlink. 0.06% of the stock is currently owned by insiders.

About Pfizer

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.