Pfizer Inc. (PFE) To Go Ex-Dividend on May 9th

Pfizer Inc. (NYSE:PFE) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Stockholders of record on Friday, May 10th will be paid a dividend of 0.42 per share by the biopharmaceutical company on Friday, June 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date of this dividend is Thursday, May 9th.

Pfizer has increased its dividend payment by an average of 2.6% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Pfizer has a payout ratio of 61.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pfizer to earn $2.75 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 61.1%.

Pfizer Price Performance

PFE opened at $28.17 on Tuesday. The company has a fifty day simple moving average of $26.90 and a 200 day simple moving average of $28.14. Pfizer has a twelve month low of $25.20 and a twelve month high of $40.37. 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 announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The company had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period last year, the business earned $1.23 EPS. The firm’s revenue for the quarter was down 19.5% compared to the same quarter last year. As a group, sell-side analysts expect that Pfizer will post 2.39 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note 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 research note on Thursday, May 2nd. BMO Capital Markets reissued an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Guggenheim assumed coverage on shares of Pfizer in a research note on Friday, February 23rd. They set a “buy” rating and a $36.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Monday, April 15th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer currently has an average 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.