Leerink Partnrs Research Analysts Lift Earnings Estimates for Pfizer Inc. (NYSE:PFE)

Pfizer Inc. (NYSE:PFE) – Investment analysts at Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for shares of Pfizer in a note issued to investors on Wednesday, July 31st. Leerink Partnrs analyst D. Risinger now expects that the biopharmaceutical company will earn $2.88 per share for the year, up from their prior forecast of $2.63. The consensus estimate for Pfizer’s current full-year earnings is $2.58 per share. Leerink Partnrs also issued estimates for Pfizer’s Q4 2024 earnings at $0.79 EPS, FY2025 earnings at $3.09 EPS, FY2026 earnings at $3.19 EPS, FY2027 earnings at $3.15 EPS and FY2028 earnings at $2.77 EPS.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.31% and a negative net margin of 4.66%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS.

PFE has been the subject of a number of other reports. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday. Wells Fargo & Company increased their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday. UBS Group increased their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Morgan Stanley increased their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer presently has a consensus rating of “Hold” and an average price target of $34.58.

Pfizer Stock Performance

Shares of NYSE PFE opened at $30.42 on Thursday. The stock has a fifty day moving average price of $28.73 and a two-hundred day moving average price of $27.84. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. The firm has a market cap of $172.38 billion, a P/E ratio of -506.92, a PEG ratio of 1.10 and a beta of 0.69. Pfizer has a 1 year low of $25.20 and a 1 year high of $37.19.

Pfizer Announces Dividend

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

Institutional Trading of Pfizer

A number of hedge funds have recently modified their holdings of the business. Olistico Wealth LLC purchased a new stake in shares of Pfizer during the second quarter worth $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer during the second quarter worth $29,000. Creekmur Asset Management LLC acquired a new position in Pfizer during the fourth quarter worth $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 worth $33,000 after buying an additional 600 shares during the last quarter. Finally, Financial Connections Group Inc. acquired a new position in Pfizer during the second quarter worth $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

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.