Pfizer (NYSE:PFE) Releases FY24 Earnings Guidance

Pfizer (NYSE:PFE) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.75-2.95 for the period, compared to the consensus earnings per share estimate of $2.91. The company issued revenue guidance of $61-64 billion, compared to the consensus revenue estimate of $62.89 billion. Pfizer also updated its FY 2025 guidance to 2.800-3.000 EPS.

Pfizer Stock Down 2.0 %

Pfizer stock opened at $25.89 on Thursday. The company has a fifty day simple moving average of $26.95 and a 200 day simple moving average of $28.22. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer has a 1-year low of $24.48 and a 1-year high of $31.54. The company has a market cap of $146.72 billion, a P/E ratio of 34.99, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter in the previous year, the business earned ($0.17) earnings per share. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. Research analysts anticipate that Pfizer will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 24th. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.64%. Pfizer’s dividend payout ratio (DPR) is currently 232.43%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wolfe Research began coverage on shares of Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target for the company. Bank of America reiterated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Citigroup began coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. Finally, Guggenheim decreased their target price on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and an average price target of $32.14.

Insider Activity

In other news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.

Pfizer Company Profile

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.