Pfizer Inc. (NYSE:PFE) Plans Quarterly Dividend of $0.42

Pfizer Inc. (NYSE:PFE) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Investors of record on Friday, May 10th will be given a dividend of 0.42 per share by the biopharmaceutical company on Friday, June 14th. This represents a $1.68 annualized dividend and a dividend yield of 6.40%.

Pfizer has raised its dividend by an average of 2.6% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Pfizer has a payout ratio of 61.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Pfizer to earn $2.77 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 60.6%.

Pfizer Trading Down 0.2 %

Shares of NYSE:PFE opened at $26.26 on Thursday. Pfizer has a 12-month low of $25.23 and a 12-month high of $40.37. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $148.70 billion, a P/E ratio of 72.94, a price-to-earnings-growth ratio of 1.19 and a beta of 0.61. The firm has a fifty day moving average of $27.05 and a two-hundred day moving average of $28.50.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.29. The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The business’s revenue was down 41.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 EPS. On average, equities analysts expect that Pfizer will post 2.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PFE has been the subject of several recent research reports. Guggenheim initiated coverage on shares of Pfizer in a research report on Friday, February 23rd. They issued a “buy” rating and a $36.00 target price 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 downgraded shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a research report on Thursday, January 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Monday, April 15th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Pfizer presently has an average rating of “Hold” and an average price target of $36.33.

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.