Pfizer (NYSE:PFE) Releases FY24 Earnings Guidance

Pfizer (NYSE:PFE) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.75-$2.95 for the period, compared to the consensus earnings per share estimate of $2.66. The company issued revenue guidance of $61.0-$64.0 billion, compared to the consensus revenue estimate of $61.13 billion. Pfizer also updated its FY 2024 guidance to 2.750-2.950 EPS.

Analysts Set New Price Targets

PFE has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Barclays upped their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Sanford C. Bernstein assumed coverage on Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Finally, Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Stock Up 1.5 %

Shares of Pfizer stock opened at $28.87 on Tuesday. 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 company has a market cap of $163.60 billion, a P/E ratio of -62.76, a PEG ratio of 0.99 and a beta of 0.67. The firm’s 50 day moving average price is $29.08 and its 200-day moving average price is $28.54. Pfizer has a 52-week low of $25.20 and a 52-week high of $31.54.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same period in the previous year, the company earned $0.67 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts predict that Pfizer will post 2.67 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced 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. This represents a $1.68 annualized dividend and a yield of 5.82%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is currently -365.21%.

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.