Q2 2024 EPS Estimates for Pfizer Inc. Boosted by Leerink Partnrs (NYSE:PFE)

Pfizer Inc. (NYSE:PFE) – Stock analysts at Leerink Partnrs lifted their Q2 2024 earnings per share (EPS) estimates for Pfizer in a report issued on Thursday, May 2nd. Leerink Partnrs analyst D. Risinger now forecasts that the biopharmaceutical company will post earnings of $0.48 per share for the quarter, up from their prior estimate 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.

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

Pfizer Trading Down 1.4 %

Shares of NYSE:PFE opened at $27.78 on Monday. Pfizer has a twelve month low of $25.20 and a twelve month high of $40.37. 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 cap of $157.28 billion, a P/E ratio of -462.84, a P/E/G ratio of 1.17 and a beta of 0.63. The company has a 50 day moving average of $26.92 and a 200-day moving average of $28.12.

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, topping the consensus estimate of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 earnings per share.

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 paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Hedge Funds Weigh In On Pfizer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFE. Briaud Financial Planning Inc bought a new position in shares of Pfizer in the 3rd quarter valued at approximately $30,000. GoalVest Advisory LLC lifted 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 last quarter. Creekmur Asset Management LLC bought a new stake in Pfizer during the fourth quarter valued at about $32,000. Trivant Custom Portfolio Group LLC grew its position in shares of 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 purchasing an additional 600 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Pfizer in the third quarter worth about $34,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Company Profile

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.