Pfizer (NYSE:PFE) Releases FY24 Earnings Guidance

Pfizer (NYSE:PFE) updated its FY24 earnings guidance on Wednesday. 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

Shares of PFE opened at $26.30 on Wednesday. Pfizer has a 12-month low of $25.20 and a 12-month high of $40.37. The stock has a market cap of $148.92 billion, a P/E ratio of 71.14, a P/E/G ratio of 1.16 and a beta of 0.61. The business’s fifty day moving average is $26.88 and its 200 day moving average is $28.26. 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 Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.29. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.37 billion. The company’s revenue for the quarter was down 41.3% on a year-over-year basis. During the same quarter last year, the company earned $1.14 earnings per share. Sell-side analysts anticipate that Pfizer will post 2.24 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio is currently 466.67%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PFE shares. TD Cowen cut Pfizer from an outperform rating to a market perform rating and set a $32.00 price objective on the stock. in a report on Thursday, January 4th. Guggenheim started coverage on shares of Pfizer in a report on Friday, February 23rd. They issued a buy rating and a $36.00 price target for the company. Cantor Fitzgerald reiterated an overweight rating and issued a $45.00 price objective on shares of Pfizer in a research report on Monday, April 15th. Finally, Argus cut Pfizer from a buy rating to a hold rating in a research report on Friday, March 22nd. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $36.33.

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.