Pfizer (NYSE:PFE) Updates FY 2024 Earnings Guidance

Pfizer (NYSE:PFE) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.750-2.950 for the period, compared to the consensus earnings per share estimate of 2.930. The company issued revenue guidance of $61.0 billion-$64.0 billion, compared to the consensus revenue estimate of $62.9 billion.

Pfizer Stock Up 4.6 %

Shares of PFE opened at $26.42 on Wednesday. The firm has a market capitalization of $149.72 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 0.63 and a beta of 0.65. Pfizer has a 52 week low of $24.48 and a 52 week high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The business’s fifty day moving average price is $27.03 and its two-hundred day moving average price is $28.24.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company’s revenue was up 31.2% on a year-over-year basis. During the same period last year, the company earned ($0.17) earnings per share. On average, analysts predict that Pfizer will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.51%. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is presently 227.03%.

Analysts Set New Price Targets

PFE has been the topic of several research analyst reports. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Citigroup initiated coverage on shares of Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective on the stock. Wolfe Research started coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein started coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer currently has a consensus rating of “Hold” and a consensus target price of $32.15.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is owned by company 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.