Pfizer (NYSE:PFE) Issues FY24 Earnings Guidance

Pfizer (NYSE:PFE) updated its FY24 earnings guidance on Wednesday. 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.

Analyst Ratings Changes

A number of brokerages recently weighed in on PFE. Guggenheim initiated coverage on Pfizer in a report on Friday, February 23rd. They issued a buy rating and a $36.00 price target for the company. Morgan Stanley raised their price target on Pfizer from $28.00 to $29.00 and gave the stock an equal weight rating in a report on Thursday. Cantor Fitzgerald restated an overweight rating and issued a $45.00 price objective on shares of Pfizer in a research note on Monday, April 15th. Argus cut Pfizer from a buy rating to a hold rating in a research note on Friday, March 22nd. Finally, BMO Capital Markets restated an outperform rating and issued a $36.00 price objective (up from $33.00) on shares of Pfizer in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $36.00.

Pfizer Price Performance

PFE traded up $0.11 on Friday, reaching $27.81. 60,568,852 shares of the company’s stock were exchanged, compared to its average volume of 41,900,304. The stock has a market cap of $157.48 billion, a PE ratio of -463.42, a P/E/G ratio of 1.18 and a beta of 0.63. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. Pfizer has a twelve month low of $25.20 and a twelve month high of $40.37. The stock’s fifty day moving average price is $26.88 and its 200-day moving average price is $28.21.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The firm had revenue of $14.88 billion for the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. The firm’s revenue was down 19.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 earnings per share. Sell-side analysts expect that Pfizer will post 2.36 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors 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 dividend yield of 6.04%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s payout ratio is -2,799.53%.

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.