Pfizer (NYSE:PFE) Releases FY24 Earnings Guidance

Pfizer (NYSE:PFE) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $2.15-2.35 for the period, compared to the consensus EPS 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 Price Performance

NYSE:PFE traded up $0.11 on Friday, reaching $27.81. 60,568,852 shares of the company’s stock traded hands, compared to its average volume of 41,900,304. The stock has a 50-day simple moving average of $26.88 and a 200-day simple moving average of $28.21. Pfizer has a 12 month low of $25.20 and a 12 month high of $40.37. The firm has a market cap of $157.48 billion, a PE ratio of -463.42, a P/E/G ratio of 1.18 and a beta of 0.63. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69.

Pfizer (NYSE:PFE) last posted its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. Pfizer’s quarterly revenue was down 19.5% on a year-over-year basis. During the same period last year, the company posted $1.23 earnings per share. Equities research analysts forecast that Pfizer will post 2.36 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be issued 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 of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Analyst Ratings Changes

A number of analysts have recently weighed in on PFE shares. Guggenheim started coverage on shares of Pfizer in a report on Friday, February 23rd. They issued a buy rating and a $36.00 target price on the stock. Morgan Stanley boosted their price objective on Pfizer from $28.00 to $29.00 and gave the stock an equal weight rating in a research note on Thursday. Argus lowered Pfizer from a buy rating to a hold rating in a research note on Friday, March 22nd. Cantor Fitzgerald reissued an overweight rating and set a $45.00 target price on shares of Pfizer in a research report on Monday, April 15th. Finally, BMO Capital Markets restated an outperform rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $36.00.

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.