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

Pfizer (NYSE:PFE - Get Free Report) announced its earnings results on Wednesday. The biopharmaceutical company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26, Briefing.com reports. The company had revenue of $14.88 billion during the quarter, compared to analysts' expectations of $13.87 billion. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The business's revenue for the quarter was down 19.5% on a year-over-year basis. During the same period last year, the company posted $1.23 earnings per share. Pfizer updated its FY 2024 guidance to 2.150-2.350 EPS and its FY24 guidance to $2.15-2.35 EPS.

Pfizer Stock Performance

Shares of NYSE:PFE traded up $0.52 during trading on Thursday, reaching $27.70. The stock had a trading volume of 63,855,289 shares, compared to its average volume of 42,875,957. Pfizer has a 52 week low of $25.20 and a 52 week high of $40.37. The firm has a market capitalization of $156.85 billion, a price-to-earnings ratio of 76.94, a P/E/G ratio of 1.15 and a beta of 0.63. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69. The stock has a fifty day simple moving average of $26.88 and a two-hundred day simple moving average of $28.25.

Pfizer Dividend Announcement

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 given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date is Thursday, May 9th. Pfizer's dividend payout ratio is 466.67%.

Analysts Set New Price Targets

Several research firms recently commented on PFE. BMO Capital Markets restated an "outperform" rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a report on Thursday. TD Cowen cut shares of Pfizer from an "outperform" rating to a "market perform" rating and set a $32.00 price target for the company. in a report on Thursday, January 4th. Cantor Fitzgerald restated an "overweight" rating and set a $45.00 price target on shares of Pfizer in a report on Monday, April 15th. Guggenheim began coverage on shares of Pfizer in a report on Friday, February 23rd. They set a "buy" rating and a $36.00 price target for the company. Finally, Morgan Stanley raised their price target on shares of Pfizer from $28.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, 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.