FY2024 EPS Estimates for Pfizer Inc. (NYSE:PFE) Lifted by Cantor Fitzgerald

Pfizer Inc. (NYSE:PFE) – Equities researchers at Cantor Fitzgerald increased their FY2024 earnings estimates for Pfizer in a research report issued to clients and investors on Wednesday, July 31st. Cantor Fitzgerald analyst L. Chen now forecasts that the biopharmaceutical company will post earnings of $2.45 per share for the year, up from their prior forecast of $2.18. Cantor Fitzgerald currently has a “Overweight” rating and a $45.00 target price on the stock. The consensus estimate for Pfizer’s current full-year earnings is $2.58 per share.

Other equities analysts also recently issued research reports about the stock. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company lifted their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday. Morgan Stanley lifted 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, May 2nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price target (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Finally, Barclays lifted their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Pfizer has an average rating of “Hold” and an average target price of $34.58.

Pfizer Stock Performance

Shares of PFE stock opened at $30.42 on Thursday. The company has a 50 day moving average price of $28.73 and a 200-day moving average price of $27.84. Pfizer has a 52 week low of $25.20 and a 52 week high of $37.19. The firm has a market capitalization of $172.38 billion, a PE ratio of -506.92, a P/E/G ratio of 1.10 and a beta of 0.69. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.31%. The firm 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 posted $0.67 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis.

Institutional Investors Weigh In On Pfizer

Large investors have recently bought and sold shares of the business. Olistico Wealth LLC bought a new stake in Pfizer in the second quarter worth $25,000. MFA Wealth Advisors LLC bought a new position in Pfizer during the second quarter valued at $29,000. Creekmur Asset Management LLC bought a new position in Pfizer during the fourth quarter valued at $32,000. Trivant Custom Portfolio Group LLC increased its position in Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares during the last quarter. Finally, Financial Connections Group Inc. bought a new position in Pfizer during the second quarter valued at $34,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.52%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s payout ratio is currently -2,799.53%.

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.