Q2 2024 EPS Estimates for Pfizer Inc. (NYSE:PFE) Boosted by Leerink Partnrs

Pfizer Inc. (NYSE:PFE) – Research analysts at Leerink Partnrs boosted their Q2 2024 earnings per share estimates for shares of Pfizer in a report released on Thursday, May 2nd. Leerink Partnrs analyst D. Risinger now anticipates that the biopharmaceutical company will post earnings of $0.48 per share for the quarter, up from their previous forecast of $0.41. The consensus estimate for Pfizer’s current full-year earnings is $2.39 per share. Leerink Partnrs also issued estimates for Pfizer’s Q3 2024 earnings at $0.61 EPS, Q4 2024 earnings at $0.72 EPS, FY2024 earnings at $2.63 EPS, FY2026 earnings at $2.97 EPS and FY2027 earnings at $3.05 EPS.

Several other analysts have also recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price target (up previously from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Monday, April 15th. Guggenheim assumed coverage on Pfizer in a research report on Friday, February 23rd. They issued a “buy” rating and a $36.00 target price on the stock. 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 report on Thursday, May 2nd. Finally, Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.00.

Pfizer Trading Up 1.3 %

Shares of PFE opened at $28.17 on Monday. 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 firm has a 50-day moving average price of $26.90 and a 200 day moving average price of $28.14. Pfizer has a 12-month low of $25.20 and a 12-month high of $40.37. The firm has a market capitalization of $159.51 billion, a P/E ratio of -469.50, a P/E/G ratio of 1.17 and a beta of 0.63.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. The company had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The firm’s revenue for the quarter was down 19.5% compared to the same quarter last year.

Hedge Funds Weigh In On Pfizer

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Clifford Swan Investment Counsel LLC boosted its holdings in Pfizer by 4.7% in the fourth quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock valued at $12,007,000 after purchasing an additional 18,611 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Pfizer by 40.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock valued at $157,215,000 after buying an additional 1,365,295 shares in the last quarter. LifePlan Financial LLC acquired a new stake in Pfizer during the 4th quarter worth $255,000. ETF Store Inc. lifted its position in Pfizer by 12.0% in the third quarter. ETF Store Inc. now owns 6,803 shares of the biopharmaceutical company’s stock valued at $214,000 after acquiring an additional 727 shares during the last quarter. Finally, KLCM Advisors Inc. boosted its stake in Pfizer by 75.0% in the fourth quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock valued at $5,004,000 after acquiring an additional 74,487 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 5.96%. Pfizer’s payout ratio is -2,800.00%.

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.