Pfizer Inc. (NYSE:PFE) Announces Quarterly Dividend of $0.42

Pfizer Inc. (NYSE:PFE) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Shareholders of record on Friday, May 10th will be paid a dividend of 0.42 per share by the biopharmaceutical company on Friday, June 14th. This represents a $1.68 dividend on an annualized basis and a yield of 6.40%.

Pfizer has increased its dividend by an average of 2.6% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Pfizer has a payout ratio of 61.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pfizer to earn $2.77 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 60.6%.

Pfizer Trading Down 0.2 %

PFE traded down $0.05 during trading on Wednesday, reaching $26.27. 23,383,393 shares of the stock traded hands, compared to its average volume of 41,873,867. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $148.75 billion, a PE ratio of 72.97, a P/E/G ratio of 1.18 and a beta of 0.61. The stock’s 50-day moving average is $27.07 and its 200 day moving average is $28.52. Pfizer has a 12 month low of $25.23 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 earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.29. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.37 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. The business’s quarterly revenue was down 41.3% compared to the same quarter last year. Equities analysts anticipate that Pfizer will post 2.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. TD Cowen lowered shares of 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. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Guggenheim initiated coverage on shares of Pfizer in a report on Friday, February 23rd. They issued a “buy” rating and a $36.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Monday, April 15th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Pfizer has a consensus rating of “Hold” and an average price target of $36.33.

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.