Pfizer (NYSE:PFE) Updates FY24 Earnings Guidance

Pfizer (NYSE:PFE) issued an update on its FY24 earnings guidance on Wednesday morning. 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 Price Performance

PFE stock traded up $0.11 during midday trading on Friday, reaching $27.81. The stock had a trading volume of 60,568,852 shares, compared to its average volume of 41,900,304. Pfizer has a 52-week low of $25.20 and a 52-week high of $40.37. The company has a market cap of $157.48 billion, a price-to-earnings ratio of -463.42, a price-to-earnings-growth ratio of 1.18 and a beta of 0.63. The company’s fifty day simple moving average is $26.88 and its 200 day simple moving average is $28.21. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $1.23 EPS. As a group, sell-side analysts predict that Pfizer will post 2.36 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business 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 dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is currently -2,799.53%.

Wall Street Analysts Forecast Growth

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