Pfizer (NYSE:PFE) Announces Quarterly Earnings Results

Pfizer (NYSE:PFE) posted its earnings results on Wednesday. The biopharmaceutical company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26, Briefing.com reports. The firm had revenue of $14.88 billion for the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The business’s quarterly revenue was down 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. Pfizer updated its FY 2024 guidance to 2.150-2.350 EPS and its FY24 guidance to $2.15-2.35 EPS.

Pfizer Price Performance

NYSE PFE traded up $0.52 during trading on Thursday, reaching $27.70. 50,009,521 shares of the company traded hands, compared to its average volume of 42,697,742. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91. The stock’s 50 day moving average price is $26.87 and its two-hundred day moving average price is $28.25. The company has a market cap of $156.85 billion, a price-to-earnings ratio of 77.25, a P/E/G ratio of 1.15 and a beta of 0.63. Pfizer has a 1-year low of $25.20 and a 1-year high of $40.37.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date is Thursday, May 9th. Pfizer’s payout ratio is 466.67%.

Wall Street Analysts Forecast Growth

PFE has been the topic of several analyst reports. Guggenheim initiated coverage on shares of Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 target price on the stock. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. BMO Capital Markets restated an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a report on Thursday. Morgan Stanley upped their price target on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, TD Cowen cut shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target for the company. in a report on Thursday, January 4th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.00.

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.