Cantor Fitzgerald Comments on Pfizer Inc.’s FY2024 Earnings (NYSE:PFE)

Pfizer Inc. (NYSE:PFE) – Cantor Fitzgerald upped their FY2024 earnings per share (EPS) estimates for shares of Pfizer in a research report issued to clients and investors on Thursday, May 2nd. Cantor Fitzgerald analyst L. Chen now anticipates that the biopharmaceutical company will post earnings of $2.15 per share for the year, up from their previous forecast of $2.05. Cantor Fitzgerald currently has a “Overweight” rating and a $45.00 target price on the stock. The consensus estimate for Pfizer’s current full-year earnings is $2.39 per share.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. The firm had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. Pfizer’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 EPS.

Several other research firms also recently issued reports on PFE. Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Morgan Stanley lifted their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. BMO Capital Markets restated an “outperform” rating and set a $36.00 price objective (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Finally, Guggenheim started coverage on Pfizer in a report on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective on the stock. 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 price target of $36.00.

Pfizer Stock Performance

Pfizer stock opened at $28.17 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91. Pfizer has a one year low of $25.20 and a one year high of $40.37. The stock’s 50 day moving average price is $26.90 and its 200 day moving average price is $28.14. The firm has a market capitalization of $159.51 billion, a PE ratio of -469.50, a price-to-earnings-growth ratio of 1.17 and a beta of 0.63.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFE. Briaud Financial Planning Inc acquired a new position in Pfizer during the 3rd quarter valued at approximately $30,000. GoalVest Advisory LLC boosted its position in Pfizer by 304.9% during the 4th quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 811 shares during the period. Creekmur Asset Management LLC acquired a new position in Pfizer during the 4th quarter worth $32,000. Trivant Custom Portfolio Group LLC boosted its position in Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares during the period. Finally, Mizuho Securities Co. Ltd. acquired a new position in Pfizer during the 3rd quarter worth $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a yield of 5.96%. Pfizer’s dividend payout ratio is currently -2,800.00%.

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.