Pfizer (NYSE:PFE) Updates FY24 Earnings Guidance

Pfizer (NYSE:PFE) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.75-2.95 for the period, compared to the consensus EPS estimate of $2.91. The company issued revenue guidance of $61-64 billion, compared to the consensus revenue estimate of $62.89 billion. Pfizer also updated its FY 2025 guidance to 2.800-3.000 EPS.

Pfizer Stock Performance

Shares of PFE stock opened at $26.42 on Wednesday. The firm’s 50 day moving average is $27.03 and its 200 day moving average is $28.24. The stock has a market capitalization of $149.72 billion, a P/E ratio of 35.70, a PEG ratio of 0.63 and a beta of 0.65. Pfizer has a 12 month low of $24.48 and a 12 month high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. The business’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) earnings per share. On average, sell-side analysts anticipate that Pfizer will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is presently 227.03%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PFE shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. Bank of America restated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Wolfe Research started coverage on shares of Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.15.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.

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.