Pfizer Inc. (PFE) Rating Lowered to Hold at Jefferies Group
Pfizer Inc. (NYSE:PFE) was downgraded by analysts at Jefferies Group from a “buy” rating to a “hold” rating in a report released on Thursday. They currently have a $36.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $39.00. Jefferies Group’s target price would indicate a potential upside of 10.23% from the company’s current price.
Several other equities research analysts also recently issued reports on PFE. Deutsche Bank AG reiterated a “buy” rating on shares of Pfizer in a research note on Wednesday, June 15th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $54.00 target price on shares of Pfizer in a research note on Monday, June 27th. Vetr upgraded shares of Pfizer from a “buy” rating to a “strong-buy” rating and set a $37.94 target price for the company in a research note on Monday, June 27th. Zacks Investment Research cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $40.00 price target on shares of Pfizer in a report on Thursday, July 21st. Eleven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $38.59.
Shares of Pfizer (NYSE:PFE) opened at 32.66 on Thursday. Pfizer has a 12-month low of $28.25 and a 12-month high of $37.39. The firm’s 50-day moving average price is $34.02 and its 200-day moving average price is $34.27. The firm has a market capitalization of $198.10 billion, a P/E ratio of 28.95 and a beta of 0.86.
Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. Pfizer had a net margin of 14.88% and a return on equity of 23.37%. The business earned $13.10 billion during the quarter, compared to the consensus estimate of $13.01 billion. During the same period last year, the business posted $0.56 EPS. Pfizer’s revenue was up 10.9% on a year-over-year basis. Equities analysts predict that Pfizer will post $2.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Tuesday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 95.24%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. City Holding Co. boosted its position in Pfizer by 5.5% in the first quarter. City Holding Co. now owns 49,450 shares of the biopharmaceutical company’s stock valued at $1,465,000 after buying an additional 2,575 shares during the period. Carroll Financial Associates Inc. boosted its position in Pfizer by 3.2% in the first quarter. Carroll Financial Associates Inc. now owns 123,836 shares of the biopharmaceutical company’s stock valued at $3,670,000 after buying an additional 3,873 shares during the period. Regent Investment Management LLC boosted its position in Pfizer by 77.8% in the first quarter. Regent Investment Management LLC now owns 33,768 shares of the biopharmaceutical company’s stock valued at $1,001,000 after buying an additional 14,781 shares during the period. Boston Advisors LLC boosted its position in Pfizer by 0.4% in the first quarter. Boston Advisors LLC now owns 619,828 shares of the biopharmaceutical company’s stock valued at $18,372,000 after buying an additional 2,606 shares during the period. Finally, Narwhal Capital Management boosted its position in Pfizer by 1.4% in the first quarter. Narwhal Capital Management now owns 125,322 shares of the biopharmaceutical company’s stock valued at $3,715,000 after buying an additional 1,700 shares during the period. Institutional investors and hedge funds own 69.66% of the company’s stock.
Pfizer Company Profile
Pfizer Inc is a research-based global biopharmaceutical company. The Company is engaged in discovering, developing and manufacturing of healthcare products. Its portfolio includes medicines, vaccines and medical devices, as well as consumer healthcare products. Its products include Prevnar/Prevenar 13, Lyrica, Enbrel, Lipitor, Viagra, Sutent, BeneFIX, Genotropin, ReFacto, Xyntha and Enbrel.
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