Leerink Partnrs Issues Positive Estimate for Pfizer Earnings

Pfizer Inc. (NYSE:PFE) – Research analysts at Leerink Partnrs lifted their FY2024 earnings estimates for Pfizer in a report issued on Tuesday, October 29th. Leerink Partnrs analyst D. Risinger now expects that the biopharmaceutical company will post earnings per share of $3.10 for the year, up from their prior forecast of $2.88. The consensus estimate for Pfizer’s current full-year earnings is $2.67 per share. Leerink Partnrs also issued estimates for Pfizer’s FY2025 earnings at $3.12 EPS, FY2026 earnings at $3.24 EPS and FY2028 earnings at $2.82 EPS.

A number of other brokerages have also recently issued reports on PFE. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Citigroup initiated coverage on shares of Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective for the company. UBS Group boosted their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Sanford C. Bernstein began coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Stock Down 0.8 %

Shares of NYSE PFE opened at $28.29 on Thursday. Pfizer has a 52-week low of $25.20 and a 52-week high of $31.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The business has a fifty day moving average of $29.05 and a two-hundred day moving average of $28.56. The stock has a market cap of $160.31 billion, a PE ratio of 38.23, a PEG ratio of 0.99 and a beta of 0.67.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.17) EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PFE. Cornerstone Wealth Management LLC boosted its position in shares of Pfizer by 19.4% during the first quarter. Cornerstone Wealth Management LLC now owns 63,545 shares of the biopharmaceutical company’s stock worth $1,763,000 after purchasing an additional 10,314 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Pfizer by 45.0% during the first quarter. First Trust Direct Indexing L.P. now owns 51,735 shares of the biopharmaceutical company’s stock worth $1,436,000 after acquiring an additional 16,060 shares in the last quarter. Accel Wealth Management acquired a new position in Pfizer in the first quarter valued at about $205,000. American National Bank & Trust Co. VA bought a new stake in shares of Pfizer in the first quarter worth about $285,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Pfizer during the first quarter worth about $315,000. Institutional investors own 68.36% of the company’s stock.

Insider Buying and Selling

In related news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by insiders.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.94%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is 227.03%.

Pfizer Company Profile

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.