Pfizer Inc. (NYSE:PFE) Declares Quarterly Dividend of $0.42

Pfizer Inc. (NYSE:PFE) announced a quarterly dividend on Wednesday, June 26th, RTT News reports. Shareholders of record on Friday, July 26th will be given a dividend of 0.42 per share by the biopharmaceutical company on Tuesday, September 3rd. This represents a $1.68 annualized dividend and a yield of 6.19%.

Pfizer has increased its dividend payment by an average of 2.6% per year over the last three years and has raised its dividend every year for the last 15 years. Pfizer has a dividend payout ratio of 61.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pfizer to earn $2.75 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 61.1%.

Pfizer Price Performance

PFE traded down $0.27 on Thursday, reaching $27.15. The stock had a trading volume of 5,936,667 shares, compared to its average volume of 40,789,063. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $153.85 billion, a price-to-earnings ratio of -456.92, a price-to-earnings-growth ratio of 1.10 and a beta of 0.70. Pfizer has a fifty-two week low of $25.20 and a fifty-two week high of $37.80. The firm has a 50-day moving average of $27.77 and a 200-day moving average of $27.69.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The company had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter last year, the firm posted $1.23 EPS. The company’s quarterly revenue was down 19.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Pfizer will post 2.38 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on PFE. BMO Capital Markets reaffirmed an “outperform” rating and issued a $36.00 target price (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Morgan Stanley boosted their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday. Finally, Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Pfizer presently has a consensus rating of “Hold” and a consensus price target of $35.86.

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.