Pfizer (NYSE:PFE) Updates FY24 Earnings Guidance

Pfizer (NYSE:PFE - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.75-2.95 for the period, compared to the consensus EPS estimate of $2.91. The company issued revenue guidance of $61-64 billion, compared to the consensus revenue estimate of $62.89 billion. Pfizer also updated its FY 2025 guidance to 2.800-3.000 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PFE shares. Bank of America reaffirmed a "neutral" rating and issued a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Wolfe Research started coverage on shares of Pfizer in a research report on Friday, November 15th. They issued an "underperform" rating and a $25.00 price target for the company. Guggenheim lowered their price objective on Pfizer from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, December 11th. Finally, Citigroup initiated coverage on shares of Pfizer in a research report on Friday, October 25th. They set a "neutral" rating and a $30.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $32.15.

Pfizer Stock Up 4.6 %

PFE stock traded up $1.17 during trading on Tuesday, reaching $26.42. 71,361,667 shares of the company traded hands, compared to its average volume of 38,635,492. The company has a market capitalization of $149.72 billion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The business has a 50 day simple moving average of $27.09 and a 200 day simple moving average of $28.25. Pfizer has a 12 month low of $24.48 and a 12 month high of $31.54.

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

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.51%. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Pfizer's previous quarterly dividend of $0.42. Pfizer's dividend payout ratio (DPR) is currently 227.03%.

Insider Transactions at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company's stock.

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.