Leerink Partnrs Research Analysts Increase Earnings Estimates for Pfizer Inc. (NYSE:PFE)

Pfizer Inc. (NYSE:PFE) – Stock analysts at Leerink Partnrs lifted their Q2 2024 earnings per share estimates for shares of Pfizer in a research note issued on Thursday, May 2nd. Leerink Partnrs analyst D. Risinger now forecasts that the biopharmaceutical company will earn $0.48 per share for the quarter, up from their prior estimate of $0.41. The consensus estimate for Pfizer’s current full-year earnings is $2.39 per share. Leerink Partnrs also issued estimates for Pfizer’s Q3 2024 earnings at $0.61 EPS, Q4 2024 earnings at $0.72 EPS, FY2024 earnings at $2.63 EPS, FY2026 earnings at $2.97 EPS and FY2027 earnings at $3.05 EPS.

A number of other research analysts have also commented on the company. Guggenheim assumed coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Monday, April 15th. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Morgan Stanley boosted their price target on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $36.00 price objective (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Pfizer presently has a consensus rating of “Hold” and an average price target of $36.00.

Pfizer Price Performance

Pfizer stock opened at $27.78 on Monday. The company has a market capitalization of $157.28 billion, a price-to-earnings ratio of -462.84, a PEG ratio of 1.17 and a beta of 0.63. The stock’s 50 day moving average is $26.92 and its 200-day moving average is $28.12. 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 has a 12 month low of $25.20 and a 12 month high of $40.37.

Pfizer (NYSE:PFE) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The company’s revenue was down 19.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 earnings per share.

Hedge Funds Weigh In On Pfizer

Hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Pfizer in the 4th quarter worth approximately $2,129,927,000. Wellington Management Group LLP boosted its stake in Pfizer by 4.9% during the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after acquiring an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Pfizer by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock worth $3,161,261,000 after acquiring an additional 9,393,992 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Pfizer by 13.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after acquiring an additional 8,298,920 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Pfizer by 30.9% during the third quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock worth $797,901,000 after acquiring an additional 5,678,004 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.05%. The ex-dividend date is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is currently -2,799.53%.

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.