Q2 2024 EPS Estimates for Pfizer Inc. (NYSE:PFE) Boosted by Analyst

Pfizer Inc. (NYSE:PFE) – Analysts at Zacks Research increased their Q2 2024 earnings per share estimates for Pfizer in a research note issued to investors on Wednesday, May 22nd. Zacks Research analyst K. Shah now anticipates that the biopharmaceutical company will post earnings of $0.43 per share for the quarter, up from their previous estimate of $0.42. The consensus estimate for Pfizer’s current full-year earnings is $2.38 per share. Zacks Research also issued estimates for Pfizer’s Q3 2024 earnings at $0.51 EPS, Q4 2024 earnings at $0.48 EPS, FY2024 earnings at $2.24 EPS, Q2 2025 earnings at $0.51 EPS, Q4 2025 earnings at $0.76 EPS, Q1 2026 earnings at $0.67 EPS and FY2026 earnings at $2.81 EPS.

PFE has been the subject of a number of other research reports. Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Guggenheim started coverage on Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday, April 15th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Finally, Morgan Stanley upped their price target on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Pfizer presently has an average rating of “Hold” and an average price target of $35.86.

Pfizer Price Performance

Shares of Pfizer stock opened at $28.88 on Thursday. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The company has a market cap of $163.65 billion, a PE ratio of -481.25, a P/E/G ratio of 1.16 and a beta of 0.63. The business has a 50 day moving average of $27.27 and a 200 day moving average of $27.96. Pfizer has a 52 week low of $25.20 and a 52 week high of $40.37.

Pfizer (NYSE:PFE) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The firm’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.23 earnings per share.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date is Thursday, May 9th. Pfizer’s payout ratio is currently -2,799.53%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PFE. Norges Bank bought a new position in shares of Pfizer during the fourth quarter valued at $2,129,927,000. Wellington Management Group LLP boosted its position in Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after purchasing an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Pfizer by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock worth $3,161,261,000 after purchasing an additional 9,393,992 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Pfizer by 13.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after purchasing an additional 8,298,920 shares during the last quarter. Finally, Swedbank AB purchased a new position in Pfizer in the first quarter worth about $172,902,000. 68.36% of the stock is owned by institutional investors.

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.