Pfizer (NYSE:PFE) Releases FY 2024 Earnings Guidance

Pfizer (NYSE:PFE) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 2.750-2.950 for the period, compared to the consensus EPS estimate of 2.650. The company issued revenue guidance of $61.0 billion-$64.0 billion, compared to the consensus revenue estimate of $61.2 billion. Pfizer also updated its FY24 guidance to $2.75-$2.95 EPS.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Citigroup assumed coverage on shares of Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective for the company. Sanford C. Bernstein started coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Pfizer has an average rating of “Moderate Buy” and a consensus target price of $33.58.

Pfizer Stock Performance

Pfizer stock traded down $0.22 during mid-day trading on Thursday, hitting $28.30. 37,223,971 shares of the company’s stock traded hands, compared to its average volume of 37,136,637. The company has a market cap of $160.37 billion, a PE ratio of 38.38, a price-to-earnings-growth ratio of 0.99 and a beta of 0.67. The firm has a 50 day moving average price of $29.06 and a 200 day moving average price of $28.56. Pfizer has a one year low of $25.20 and a one year high of $31.54. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business’s revenue was up 31.2% on a year-over-year basis. During the same period last year, the firm posted ($0.17) earnings per share. On average, equities analysts forecast that Pfizer will post 2.67 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

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.