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.

Analyst Upgrades and Downgrades

PFE has been the subject of a number of analyst reports. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Sanford C. Bernstein started coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Guggenheim cut their price objective on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, Citigroup began coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $32.15.

Pfizer Trading Down 1.3 %

NYSE PFE opened at $25.26 on Tuesday. The company has a 50 day moving average price of $27.09 and a 200 day moving average price of $28.25. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer has a 52 week low of $24.48 and a 52 week high of $31.54. The firm has a market cap of $143.15 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. The company’s revenue was up 31.2% on a year-over-year basis. As a group, sell-side analysts forecast 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. Shareholders of record on Friday, January 24th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.81%. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Insider Buying and Selling

In other news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

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.