Equities Analysts Set Expectations for Pfizer Inc.’s FY2024 Earnings (NYSE:PFE)

Pfizer Inc. (NYSE:PFE) – Equities researchers at Cantor Fitzgerald increased their FY2024 EPS estimates for Pfizer in a note issued to investors on Thursday, May 2nd. Cantor Fitzgerald analyst L. Chen now expects that the biopharmaceutical company will post earnings of $2.15 per share for the year, up from their prior forecast of $2.05. Cantor Fitzgerald has a “Overweight” rating and a $45.00 price objective on the stock. The consensus estimate for Pfizer’s current full-year earnings is $2.39 per share.

Several other equities analysts have also recently issued reports on the company. Morgan Stanley raised their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Guggenheim began coverage on shares of Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective for the company. BMO Capital Markets restated an “outperform” rating and issued a $36.00 target price (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Finally, Argus cut Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.00.

Pfizer Stock Performance

Pfizer stock opened at $27.78 on Monday. Pfizer has a 52 week low of $25.20 and a 52 week high of $40.37. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The stock has a market cap of $157.28 billion, a P/E ratio of -462.84, a price-to-earnings-growth ratio of 1.17 and a beta of 0.63. The stock has a 50 day moving average of $26.92 and a 200-day moving average of $28.12.

Pfizer (NYSE:PFE) last issued 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 analyst estimates of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The firm’s revenue was down 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS.

Institutional Investors Weigh In On Pfizer

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in Pfizer in the fourth quarter valued at about $2,129,927,000. Wellington Management Group LLP lifted its holdings in shares of Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after buying an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Pfizer by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock valued at $3,161,261,000 after buying an additional 9,393,992 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings 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 buying an additional 8,298,920 shares during the last quarter. Finally, Invesco Ltd. raised its position in Pfizer by 30.9% during the third quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock valued at $797,901,000 after acquiring an additional 5,678,004 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be given a $0.42 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.68 annualized dividend and a dividend yield of 6.05%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

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.