Pfizer (NYSE:PFE) Releases FY 2024 Earnings Guidance

Pfizer (NYSE:PFE) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.150-2.350 for the period, compared to the consensus estimate of 2.210. The company issued revenue guidance of $58.5 billion-$61.5 billion, compared to the consensus revenue estimate of $60.0 billion. Pfizer also updated its FY24 guidance to $2.15-2.35 EPS.

Pfizer Stock Up 0.4 %

Shares of NYSE:PFE opened at $27.81 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. Pfizer has a 52-week low of $25.20 and a 52-week high of $40.37. The firm has a fifty day moving average of $26.88 and a 200 day moving average of $28.25.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.26. The firm had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. The company’s revenue was down 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 earnings per share. Sell-side analysts forecast that Pfizer will post 2.36 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.04%. The ex-dividend date is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Wall Street Analyst Weigh In

Several research firms recently commented on PFE. Cantor Fitzgerald reaffirmed an overweight rating and set a $45.00 target price on shares of Pfizer in a report on Monday, April 15th. Argus cut Pfizer from a buy rating to a hold rating in a research note on Friday, March 22nd. Morgan Stanley boosted their target price on Pfizer from $28.00 to $29.00 and gave the company an equal weight rating in a research note on Thursday. 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. Finally, BMO Capital Markets reissued an outperform rating and set a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Pfizer currently has an average rating of Hold and a consensus price target of $36.00.

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.