Leerink Partnrs Has Positive View of Pfizer FY2024 Earnings

Pfizer Inc. (NYSE:PFE) – Leerink Partnrs boosted their FY2024 earnings per share estimates for Pfizer in a note issued to investors on Tuesday, October 29th. Leerink Partnrs analyst D. Risinger now expects that the biopharmaceutical company will earn $3.10 per share for the year, up from their previous estimate of $2.88. The consensus estimate for Pfizer’s current full-year earnings is $2.67 per share. Leerink Partnrs also issued estimates for Pfizer’s FY2025 earnings at $3.12 EPS, FY2026 earnings at $3.24 EPS and FY2028 earnings at $2.82 EPS.

A number of other research analysts have also issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. Citigroup began coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Barclays boosted their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Eight 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 company’s stock. Based on data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Trading Up 0.2 %

PFE stock opened at $28.52 on Thursday. Pfizer has a 52 week low of $25.20 and a 52 week high of $31.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The company’s 50-day simple moving average is $29.06 and its 200 day simple moving average is $28.56. The company has a market capitalization of $161.61 billion, a PE ratio of 38.54, a price-to-earnings-growth ratio of 0.99 and a beta of 0.67.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the prior year, the firm posted ($0.17) EPS. The company’s revenue for the quarter was up 31.2% on a year-over-year basis.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.89%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Hedge Funds Weigh In On Pfizer

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Olistico Wealth LLC acquired a new stake in shares of Pfizer during the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Pfizer during the second quarter valued at about $29,000. Quarry LP bought a new stake in shares of Pfizer during the second quarter worth about $31,000. Financial Connections Group Inc. acquired a new position in shares of Pfizer in the second quarter valued at approximately $34,000. Finally, ESL Trust Services LLC bought a new position in Pfizer in the 1st quarter valued at approximately $37,000. Institutional investors own 68.36% 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.