Pfizer (NYSE:PFE) Posts Earnings Results, Beats Expectations By $0.26 EPS

Pfizer (NYSE:PFE) posted its quarterly earnings results on Wednesday. The biopharmaceutical company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26, Briefing.com reports. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The company had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period in the prior year, the business posted $1.23 EPS. The firm’s revenue was down 19.5% compared to the same quarter last year. Pfizer updated its FY 2024 guidance to 2.150-2.350 EPS and its FY24 guidance to $2.15-2.35 EPS.

Pfizer Stock Performance

Shares of PFE traded up $0.52 on Thursday, reaching $27.70. The company’s stock had a trading volume of 50,009,521 shares, compared to its average volume of 42,697,742. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. The stock has a market capitalization of $156.85 billion, a P/E ratio of 77.25, a PEG ratio of 1.15 and a beta of 0.63. The stock’s 50 day simple moving average is $26.87 and its two-hundred day simple moving average is $28.25. Pfizer has a 12-month low of $25.20 and a 12-month high of $40.37.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date is Thursday, May 9th. Pfizer’s payout ratio is 466.67%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a report on Thursday. Guggenheim started coverage on shares of Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 price target for the company. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. TD Cowen lowered shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target for the company. in a research note on Thursday, January 4th. Finally, Morgan Stanley increased their price objective on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Pfizer has a consensus rating of “Hold” and a consensus target price 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.