Pfizer (NYSE:PFE – Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.15-2.35 for the period, compared to the consensus earnings per share 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.
Analyst Ratings Changes
PFE has been the subject of several recent research reports. BMO Capital Markets reissued an outperform rating and issued a $36.00 price target (up previously from $33.00) on shares of Pfizer in a research report on Thursday. Morgan Stanley increased their price target on Pfizer from $28.00 to $29.00 and gave the company an equal weight rating in a research report on Thursday. Guggenheim assumed coverage on Pfizer in a research report on Friday, February 23rd. They issued a buy rating and a $36.00 price target on the stock. Argus lowered Pfizer from a buy rating to a hold rating in a research report on Friday, March 22nd. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $45.00 price target on shares of Pfizer in a research report on Monday, April 15th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $36.00.
Read Our Latest Research Report on PFE
Pfizer Stock Performance
Pfizer (NYSE:PFE – Get Free Report) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The firm had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The firm’s revenue for the quarter was down 19.5% compared to the same quarter last year. As a group, equities analysts anticipate that Pfizer will post 2.36 EPS for the current fiscal year.
Pfizer Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 6.04%. Pfizer’s payout ratio is -2,799.53%.
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.
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