Pfizer (NYSE:PFE) Releases FY24 Earnings Guidance

Pfizer (NYSE:PFE) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.15-2.35 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reissued an overweight rating and issued a $45.00 price objective on shares of Pfizer in a research note on Monday, April 15th. TD Cowen cut shares of Pfizer from an outperform rating to a market perform rating and set a $32.00 price objective for the company. in a research note on Thursday, January 4th. Argus lowered shares of Pfizer from a buy rating to a hold rating in a research note on Friday, March 22nd. Finally, Guggenheim started 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. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $36.33.

Pfizer Stock Performance

Shares of Pfizer stock opened at $26.30 on Wednesday. The stock’s fifty day simple moving average is $26.88 and its 200 day simple moving average is $28.26. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $148.92 billion, a PE ratio of 71.14, a PEG ratio of 1.16 and a beta of 0.61. Pfizer has a 12 month low of $25.20 and a 12 month high of $40.37.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, January 30th. The biopharmaceutical company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.29. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.37 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The firm’s revenue for the quarter was down 41.3% on a year-over-year basis. On average, research analysts predict that Pfizer will post 2.24 EPS for the current year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders 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 yield of 6.39%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently 466.67%.

Pfizer Company Profile

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.