Pfizer (NYSE:PFE) Issues FY24 Earnings Guidance

Pfizer (NYSE:PFE - Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.15-2.35 for the period, compared to the consensus earnings per share estimate of $2.21. The company issued revenue guidance of $58.5-61.5 billion, compared to the consensus revenue estimate of $59.94 billion. Pfizer also updated its FY 2024 guidance to 2.150-2.350 EPS.

Pfizer Trading Up 6.0 %

Shares of PFE traded up $1.55 during mid-day trading on Wednesday, reaching $27.17. 97,471,863 shares of the company's stock traded hands, compared to its average volume of 42,556,406. The stock has a market cap of $153.85 billion, a P/E ratio of 75.47, a P/E/G ratio of 1.16 and a beta of 0.61. The stock's 50-day moving average is $26.87 and its two-hundred day moving average is $28.25. Pfizer has a 12 month low of $25.20 and a 12 month high of $40.37. 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 (NYSE:PFE - Get Free Report) last released its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.29. The firm had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The company's quarterly revenue was down 41.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Research analysts forecast that Pfizer will post 2.24 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be issued a $0.42 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.18%. Pfizer's payout ratio is 466.67%.

Analyst Ratings Changes

PFE has been the subject of a number of research reports. TD Cowen lowered 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. Argus lowered Pfizer from a buy rating to a hold rating in a report on Friday, March 22nd. Guggenheim assumed coverage on Pfizer in a report on Friday, February 23rd. They set a buy rating and a $36.00 target price for the company. Finally, Cantor Fitzgerald restated an overweight rating and set a $45.00 target price on shares of Pfizer in a report on Monday, April 15th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Pfizer presently has an average rating of Hold and a consensus 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.