Leerink Partnrs Comments on Pfizer Inc.’s Q2 2024 Earnings (NYSE:PFE)

Pfizer Inc. (NYSE:PFE) – Stock analysts at Leerink Partnrs upped their Q2 2024 earnings estimates for Pfizer in a report issued on Thursday, May 2nd. Leerink Partnrs analyst D. Risinger now anticipates that the biopharmaceutical company will post earnings per share of $0.48 for the quarter, up from their prior forecast of $0.41. The consensus estimate for Pfizer’s current full-year earnings is $2.39 per share. Leerink Partnrs also issued estimates for Pfizer’s Q3 2024 earnings at $0.61 EPS, Q4 2024 earnings at $0.72 EPS, FY2024 earnings at $2.63 EPS, FY2026 earnings at $2.97 EPS and FY2027 earnings at $3.05 EPS.

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

Several other analysts also recently commented on PFE. BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 target price (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Morgan Stanley boosted their target price on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Guggenheim assumed coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Monday, April 15th. Finally, Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Pfizer has an average rating of “Hold” and a consensus price target of $36.00.

Pfizer Trading Up 1.3 %

NYSE PFE opened at $28.17 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $159.51 billion, a P/E ratio of -469.50, a PEG ratio of 1.17 and a beta of 0.63. The business has a fifty day simple moving average of $26.90 and a 200 day simple moving average of $28.14. Pfizer has a 12 month low of $25.20 and a 12 month high of $40.37.

Institutional Trading of Pfizer

Several institutional investors and hedge funds have recently bought and sold shares of PFE. Briaud Financial Planning Inc purchased a new stake in Pfizer in the third quarter valued at approximately $30,000. GoalVest Advisory LLC raised its position in shares of Pfizer by 304.9% during the 4th quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 811 shares in the last quarter. Creekmur Asset Management LLC bought a new stake in shares of Pfizer during the 4th quarter worth $32,000. Trivant Custom Portfolio Group LLC increased its stake in Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. purchased a new stake in Pfizer during the third quarter valued at about $34,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s payout ratio is -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.