FY2024 EPS Estimates for Pfizer Raised by Cantor Fitzgerald

Pfizer Inc. (NYSE:PFE) – Stock analysts at Cantor Fitzgerald boosted their FY2024 earnings per share (EPS) estimates for shares of Pfizer in a report released on Wednesday, October 30th. Cantor Fitzgerald analyst L. Chen now expects that the biopharmaceutical company will post earnings per share of $2.75 for the year, up from their prior forecast of $2.45. Cantor Fitzgerald currently has a “Overweight” rating and a $45.00 target price on the stock. The consensus estimate for Pfizer’s current full-year earnings is $2.95 per share.

Several other brokerages have also recently weighed in on PFE. Barclays boosted their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and upped their price target for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, UBS Group upped their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Price Performance

Pfizer stock opened at $28.08 on Thursday. The company’s fifty day moving average price is $29.03 and its 200 day moving average price is $28.57. Pfizer has a 1 year low of $25.20 and a 1 year high of $31.54. The stock has a market capitalization of $159.12 billion, a P/E ratio of 37.95, a P/E/G ratio of 0.90 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.40% and a net margin of 7.07%. The firm’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.17) EPS.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 5.98%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is currently 227.03%.

Insider Buying and Selling

In related news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Pfizer

Several hedge funds have recently added to or reduced their stakes in the business. XML Financial LLC grew its stake in shares of Pfizer by 1.5% during the third quarter. XML Financial LLC now owns 182,019 shares of the biopharmaceutical company’s stock worth $5,268,000 after purchasing an additional 2,690 shares during the period. Atria Investments Inc lifted its holdings in shares of Pfizer by 1.1% in the third quarter. Atria Investments Inc now owns 300,430 shares of the biopharmaceutical company’s stock valued at $8,694,000 after purchasing an additional 3,243 shares in the last quarter. Kerusso Capital Management LLC increased its position in shares of Pfizer by 6.5% in the third quarter. Kerusso Capital Management LLC now owns 111,081 shares of the biopharmaceutical company’s stock valued at $3,215,000 after acquiring an additional 6,759 shares during the last quarter. TCTC Holdings LLC increased its position in shares of Pfizer by 0.4% in the third quarter. TCTC Holdings LLC now owns 1,349,889 shares of the biopharmaceutical company’s stock valued at $39,066,000 after acquiring an additional 4,912 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Pfizer by 2.9% in the third quarter. Assetmark Inc. now owns 3,699,263 shares of the biopharmaceutical company’s stock valued at $107,057,000 after acquiring an additional 103,548 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

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.