Pfizer (NYSE:PFE) Posts Earnings Results, Beats Expectations By $0.42 EPS

Pfizer (NYSE:PFE - Get Free Report) posted its earnings results on Tuesday. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.42, Briefing.com reports. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business had revenue of $17.70 billion during the quarter, compared to analysts' expectations of $14.92 billion. During the same period in the prior year, the business earned ($0.17) EPS. Pfizer's revenue for the quarter was up 31.2% compared to the same quarter last year. Pfizer updated its FY 2024 guidance to 2.750-2.950 EPS and its FY24 guidance to $2.75-$2.95 EPS.

Pfizer Stock Performance

PFE traded down $0.02 during trading hours on Wednesday, reaching $28.44. The company's stock had a trading volume of 29,987,846 shares, compared to its average volume of 37,133,441. The company's 50-day moving average is $29.07 and its 200-day moving average is $28.56. Pfizer has a 52 week low of $25.20 and a 52 week high of $31.54. The firm has a market cap of $161.16 billion, a PE ratio of -61.59, a price-to-earnings-growth ratio of 0.99 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.91%. Pfizer's dividend payout ratio is currently -365.21%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PFE shares. Cantor Fitzgerald reissued an "overweight" rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Daiwa America raised Pfizer from a "moderate buy" rating to a "strong-buy" rating in a research report on Wednesday, August 7th. Sanford C. Bernstein began coverage on Pfizer in a research report on Thursday, October 17th. They set a "market perform" rating and a $32.00 price target for the company. Wells Fargo & Company upped their price target on Pfizer from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised Pfizer from a "hold" rating to a "buy" rating in a research report on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Pfizer presently has an average rating of "Moderate Buy" and an average price target of $33.58.

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.