Pfizer (NYSE:PFE) Announces Earnings Results, Beats Estimates By $0.14 EPS

Pfizer (NYSE:PFE) released its quarterly earnings data on Tuesday. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14, Briefing.com reports. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same period in the previous year, the business earned $0.67 EPS. Pfizer’s revenue was up 2.1% compared to the same quarter last year. Pfizer updated its FY 2024 guidance to 2.450-2.650 EPS.

Pfizer Trading Down 2.7 %

Pfizer stock traded down $0.85 during mid-day trading on Wednesday, hitting $30.54. The company’s stock had a trading volume of 40,944,947 shares, compared to its average volume of 40,093,852. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. The stock has a market cap of $173.06 billion, a price-to-earnings ratio of -509.00, a price-to-earnings-growth ratio of 1.20 and a beta of 0.69. The business has a 50 day moving average price of $28.64 and a 200-day moving average price of $27.79. Pfizer has a 12 month low of $25.20 and a 12 month high of $37.19.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 5.50%. The ex-dividend date is Friday, July 26th. Pfizer’s dividend payout ratio is presently -2,800.00%.

Wall Street Analysts Forecast Growth

PFE has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday. Morgan Stanley boosted their price target on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. BMO Capital Markets restated an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Wells Fargo & Company boosted their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $34.58.

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.