Pfizer (NYSE:PFE) Issues FY 2024 Earnings Guidance

Pfizer (NYSE:PFE) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.150-2.350 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Cantor Fitzgerald reiterated an overweight rating and issued a $45.00 target price on shares of Pfizer in a report on Monday, April 15th. Morgan Stanley boosted their price objective on Pfizer from $28.00 to $29.00 and gave the company an equal weight rating in a report on Thursday. BMO Capital Markets restated an outperform rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a report on Thursday. Argus lowered shares of Pfizer from a buy rating to a hold rating in a research note on Friday, March 22nd. Finally, Guggenheim started coverage on shares of Pfizer in a research report on Friday, February 23rd. They set a buy rating and a $36.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer has a consensus rating of Hold and a consensus price target of $36.00.

Pfizer Stock 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 firm has a 50 day moving average of $26.88 and a two-hundred day moving average of $28.25. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69.

Pfizer (NYSE:PFE) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The firm had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the previous year, the firm posted $1.23 earnings per share. The company’s revenue was down 19.5% compared to the same quarter last year. Sell-side analysts predict that Pfizer will post 2.36 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.04%. The ex-dividend date is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently -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.