Pfizer (NYSE:PFE) Issues FY24 Earnings Guidance

Pfizer (NYSE:PFE) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.75-2.95 for the period, compared to the consensus EPS estimate of $2.91. The company issued revenue guidance of $61-64 billion, compared to the consensus revenue estimate of $62.89 billion. Pfizer also updated its FY 2025 guidance to 2.800-3.000 EPS.

Pfizer Stock Down 2.0 %

PFE stock opened at $25.89 on Thursday. The firm has a market cap of $146.72 billion, a PE ratio of 34.99, a PEG ratio of 0.63 and a beta of 0.65. Pfizer has a 1 year low of $24.48 and a 1 year high of $31.54. The company has a fifty day simple moving average of $26.95 and a 200 day simple moving average of $28.22. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

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

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be given a $0.43 dividend. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.64%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is currently 232.43%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PFE. Truist Financial reduced their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Bank of America restated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.14.

Insider Transactions at Pfizer

In related news, Director Scott Gottlieb acquired 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, with a total value of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by insiders.

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.