Pfizer Inc. (NYSE:PFE) to Issue Quarterly Dividend of $0.42

Pfizer Inc. (NYSE:PFE) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Stockholders of record on Friday, May 10th will be paid a dividend of 0.42 per share by the biopharmaceutical company on Friday, June 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.40%.

Pfizer has increased its dividend payment by an average of 2.6% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Pfizer has a payout ratio of 61.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pfizer to earn $2.77 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 60.6%.

Pfizer Price Performance

Shares of Pfizer stock traded down $0.05 on Wednesday, reaching $26.27. 23,383,393 shares of the stock were exchanged, compared to its average volume of 41,873,867. The firm’s 50 day moving average is $27.07 and its 200-day moving average is $28.52. Pfizer has a one year low of $25.23 and a one year high of $40.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91. The firm has a market cap of $148.75 billion, a PE ratio of 72.97, a P/E/G ratio of 1.18 and a beta of 0.61.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.29. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.37 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. The firm’s quarterly revenue was down 41.3% on a year-over-year basis. As a group, analysts anticipate that Pfizer will post 2.24 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Guggenheim assumed coverage on shares of Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective for the company. TD Cowen downgraded shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a research note on Thursday, January 4th. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Monday, April 15th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $36.33.

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.