Pfizer (NYSE:PFE) Updates FY24 Earnings Guidance

Pfizer (NYSE:PFE) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.15-2.35 for the period, compared to the consensus earnings per share estimate of $2.21. The company issued revenue guidance of $58.5-61.5 billion, compared to the consensus revenue estimate of $59.94 billion. Pfizer also updated its FY 2024 guidance to 2.150-2.350 EPS.

Pfizer Trading Up 0.4 %

NYSE PFE traded up $0.11 during mid-day trading on Friday, reaching $27.81. 60,568,852 shares of the stock were exchanged, compared to its average volume of 41,900,304. The stock has a market cap of $157.48 billion, a P/E ratio of -463.42, a P/E/G ratio of 1.18 and a beta of 0.63. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. Pfizer has a one year low of $25.20 and a one year high of $40.37. The stock has a 50 day simple moving average of $26.88 and a 200-day simple moving average of $28.21.

Pfizer (NYSE:PFE) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.56 by $0.26. The company had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. The firm’s revenue for the quarter was down 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.23 EPS. On average, analysts anticipate that Pfizer will post 2.36 EPS for the current year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. BMO Capital Markets reaffirmed an outperform rating and issued a $36.00 price target (up previously from $33.00) on shares of Pfizer in a research report on Thursday. Morgan Stanley raised their target price on Pfizer from $28.00 to $29.00 and gave the company an equal weight rating in a report on Thursday. Argus downgraded Pfizer from a buy rating to a hold rating in a report on Friday, March 22nd. Guggenheim started coverage on Pfizer in a research note on Friday, February 23rd. They set a buy rating and a $36.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $45.00 target price on shares of Pfizer in a research note on Monday, April 15th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $36.00.

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.