Brokerages Expect Pfizer Inc. (NYSE:PFE) Will Post Quarterly Sales of $17.67 Billion

Equities research analysts expect Pfizer Inc. (NYSE:PFE) to post $17.67 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Pfizer’s earnings, with estimates ranging from $15.30 billion to $19.05 billion. Pfizer posted sales of $11.80 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 49.7%. The firm is expected to announce its next quarterly earnings report on Tuesday, July 27th.

According to Zacks, analysts expect that Pfizer will report full-year sales of $74.27 billion for the current financial year, with estimates ranging from $70.82 billion to $78.65 billion. For the next financial year, analysts forecast that the firm will post sales of $59.47 billion, with estimates ranging from $48.51 billion to $79.19 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Pfizer.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, May 4th. The biopharmaceutical company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.15. The firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.41 billion. Pfizer had a net margin of 22.09% and a return on equity of 24.55%. The company’s revenue was up 44.6% on a year-over-year basis. During the same quarter last year, the company earned $0.80 earnings per share.

PFE has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of Pfizer from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, May 10th. Berenberg Bank restated a “neutral” rating and issued a $38.00 price objective on shares of Pfizer in a research report on Tuesday, March 23rd. Barclays raised their price objective on shares of Pfizer from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 5th. JPMorgan Chase & Co. set a $40.00 price objective on shares of Pfizer and gave the company a “neutral” rating in a research report on Monday, May 24th. Finally, Mizuho restated a “neutral” rating and issued a $42.00 price objective on shares of Pfizer in a research report on Wednesday, May 12th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $39.73.

PFE opened at $40.68 on Friday. The stock has a market capitalization of $227.71 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.16. The stock has a 50-day simple moving average of $38.76. Pfizer has a twelve month low of $31.61 and a twelve month high of $43.08.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 4th. Stockholders of record on Friday, May 7th were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, May 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.83%. Pfizer’s payout ratio is 70.27%.

In other news, SVP Jennifer B. Damico sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of $40.82, for a total value of $102,050.00. Following the completion of the sale, the senior vice president now directly owns 13,748 shares in the company, valued at approximately $561,193.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.05% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PFE. Norges Bank purchased a new position in shares of Pfizer in the fourth quarter worth $2,219,532,000. Ameriprise Financial Inc. increased its stake in shares of Pfizer by 111.3% in the first quarter. Ameriprise Financial Inc. now owns 17,940,336 shares of the biopharmaceutical company’s stock worth $649,995,000 after buying an additional 9,451,863 shares during the period. BlackRock Inc. increased its stake in shares of Pfizer by 2.2% in the first quarter. BlackRock Inc. now owns 405,733,970 shares of the biopharmaceutical company’s stock worth $14,699,742,000 after buying an additional 8,760,458 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Pfizer by 125.2% in the first quarter. Canada Pension Plan Investment Board now owns 13,765,773 shares of the biopharmaceutical company’s stock worth $498,734,000 after buying an additional 7,654,145 shares during the period. Finally, Morgan Stanley increased its position in Pfizer by 16.4% during the 4th quarter. Morgan Stanley now owns 53,610,111 shares of the biopharmaceutical company’s stock valued at $1,973,389,000 after purchasing an additional 7,540,245 shares during the period. 64.22% of the stock is currently owned by institutional investors.

Pfizer Company Profile

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and pain under the Eliquis, Chantix/Champix, and Premarin family brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines under the Sulperazon, Medrol, Zithromax, Vfend, and Panzyga brands.

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