Pfizer (NYSE:PFE) Issues FY 2024 Earnings Guidance

Pfizer (NYSE:PFE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.750-2.950 for the period, compared to the consensus earnings per share estimate of 2.930. The company issued revenue guidance of $61.0 billion-$64.0 billion, compared to the consensus revenue estimate of $62.9 billion.

Pfizer Price Performance

Shares of NYSE PFE opened at $26.42 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average price is $27.03 and its 200 day moving average price is $28.24. Pfizer has a 52 week low of $24.48 and a 52 week high of $31.54. The firm has a market cap of $149.72 billion, a P/E ratio of 35.70, a P/E/G ratio of 0.63 and a beta 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 for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.17) EPS. On average, sell-side analysts expect that Pfizer will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be given 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 is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is 227.03%.

Analyst Upgrades and Downgrades

PFE has been the subject of a number of analyst reports. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Bank of America restated a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Citigroup started coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective on the stock. Guggenheim reduced their price target on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Sanford C. Bernstein began coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Pfizer currently has a consensus rating of “Hold” and an average price target of $32.15.

Insider Buying and Selling

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by company insiders.

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.