Pfizer (NYSE:PFE) Posts Earnings Results, Beats Expectations By $0.26 EPS

Pfizer (NYSE:PFE) issued its quarterly earnings data on Wednesday. The biopharmaceutical company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.56 by $0.26, Briefing.com reports. The business had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The firm’s revenue was down 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 EPS. Pfizer updated its FY 2024 guidance to 2.150-2.350 EPS and its FY24 guidance to $2.15-2.35 EPS.

Pfizer Stock Up 0.4 %

Shares of NYSE:PFE opened at $27.81 on Friday. Pfizer has a fifty-two week low of $25.20 and a fifty-two week high of $40.37. The company’s 50-day moving average is $26.88 and its 200 day moving average is $28.25. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be paid a $0.42 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a yield of 6.04%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Wall Street Analyst Weigh In

PFE has been the topic of a number of research reports. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Monday, April 15th. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a research note on Thursday. Morgan Stanley raised their target price on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Guggenheim started coverage on Pfizer in a research report on Friday, February 23rd. They issued 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 issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $36.00.

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.