Pfizer (NYSE:PFE) Issues FY 2024 Earnings Guidance

Pfizer (NYSE:PFE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.150-2.350 for the period, compared to the consensus EPS estimate of 2.210. The company issued revenue guidance of $58.5 billion-$61.5 billion, compared to the consensus revenue estimate of $60.0 billion. Pfizer also updated its FY24 guidance to $2.15-2.35 EPS.

Wall Street Analysts Forecast Growth

PFE has been the subject of several research reports. BMO Capital Markets reissued an outperform rating and issued a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a research note on Thursday. Argus downgraded Pfizer from a buy rating to a hold rating in a report on Friday, March 22nd. Cantor Fitzgerald reaffirmed an overweight rating and issued a $45.00 target price on shares of Pfizer in a report on Monday, April 15th. Guggenheim assumed coverage on Pfizer in a research note on Friday, February 23rd. They set a buy rating and a $36.00 price target on the stock. Finally, Morgan Stanley upped their price objective on Pfizer from $28.00 to $29.00 and gave the company an equal weight rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $36.00.

Pfizer Price Performance

NYSE:PFE opened at $27.81 on Friday. Pfizer has a 52 week low of $25.20 and a 52 week 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’s fifty day moving average is $26.88 and its 200-day moving average is $28.25.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period last year, the company posted $1.23 EPS. The business’s quarterly revenue was down 19.5% on a year-over-year basis. On average, equities analysts forecast that Pfizer will post 2.36 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 annualized dividend and a dividend yield of 6.04%. Pfizer’s dividend payout ratio is currently -2,799.53%.

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.