Pfizer (NYSE:PFE) Announces Earnings Results, Beats Estimates By $0.42 EPS

Pfizer (NYSE:PFE) posted its quarterly earnings data on Tuesday. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42, Briefing.com reports. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) EPS. Pfizer updated its FY 2024 guidance to 2.750-2.950 EPS and its FY24 guidance to $2.75-$2.95 EPS.

Pfizer Stock Up 0.2 %

Shares of NYSE PFE opened at $28.52 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average is $29.06 and its two-hundred day moving average is $28.56. Pfizer has a 52-week low of $25.20 and a 52-week high of $31.54. The firm has a market cap of $161.61 billion, a price-to-earnings ratio of 38.54, a PEG ratio of 0.99 and a beta of 0.67.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.89%. Pfizer’s payout ratio is currently 227.03%.

Analysts Set New Price Targets

Several research analysts recently commented on PFE shares. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Citigroup began coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. Barclays increased their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Sanford C. Bernstein assumed 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. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.58.

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.