Pfizer Inc. (PFE) to Issue Quarterly Dividend of $0.42 on June 14th

Pfizer Inc. (NYSE:PFE) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Shareholders of record on Friday, May 10th will be paid a dividend of 0.42 per share by the biopharmaceutical company on Friday, June 14th. This represents a $1.68 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date is Thursday, May 9th.

Pfizer has raised its dividend payment by an average of 2.6% per year over the last three years and has increased its dividend every year for the last 15 years. Pfizer has a dividend payout ratio of 61.5% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of PFE opened at $25.26 on Friday. Pfizer has a 12-month low of $25.23 and a 12-month high of $40.37. The business has a 50-day simple moving average of $27.01 and a two-hundred day simple moving average of $28.48. 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 stock has a market cap of $143.04 billion, a PE ratio of 70.17, a PEG ratio of 1.18 and a beta of 0.61.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on PFE. Guggenheim began coverage on 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 Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. TD Cowen lowered 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 restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Monday, April 15th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Pfizer currently has an average rating of “Hold” and a consensus target price 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.