Pfizer (NYSE:PFE) Releases FY 2024 Earnings Guidance

Pfizer (NYSE:PFE - Get Free Report) updated its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.750-2.950 for the period, compared to the consensus estimate of 2.930. The company issued revenue guidance of $61.0 billion-$64.0 billion, compared to the consensus revenue estimate of $62.9 billion.

Pfizer Price Performance

Shares of PFE stock traded down $0.54 on Wednesday, hitting $25.89. 46,986,047 shares of the stock traded hands, compared to its average volume of 38,670,906. The firm has a 50 day simple moving average of $27.03 and a two-hundred day simple moving average of $28.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. Pfizer has a 52 week low of $24.48 and a 52 week high of $31.54. The firm has a market cap of $146.72 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 0.63 and a beta of 0.65.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. Pfizer's quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.17) EPS. As a group, equities research analysts predict that Pfizer will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 6.64%. The ex-dividend date is Friday, January 24th. This is a boost from Pfizer's previous quarterly dividend of $0.42. Pfizer's dividend payout ratio (DPR) is 232.43%.

Analyst Ratings Changes

Several equities analysts recently issued reports on PFE shares. Truist Financial cut their target price on Pfizer from $36.00 to $32.00 and set a "buy" rating on the stock in a research report on Wednesday. Bank of America reaffirmed a "neutral" rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Citigroup initiated coverage on Pfizer in a report on Friday, October 25th. They issued a "neutral" rating and a $30.00 price objective for the company. Sanford C. Bernstein started coverage on Pfizer in a research report on Thursday, October 17th. They set a "market perform" rating and a $32.00 target price on the stock. Finally, StockNews.com cut shares of Pfizer from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Pfizer has a consensus rating of "Moderate Buy" and a consensus target price of $32.14.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the firm's stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by company insiders.

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.