FY2024 EPS Estimates for Pfizer Boosted by Cantor Fitzgerald

Pfizer Inc. (NYSE:PFE) – Equities research analysts at Cantor Fitzgerald increased their FY2024 EPS estimates for Pfizer in a research note issued to investors on Wednesday, October 30th. Cantor Fitzgerald analyst L. Chen now forecasts that the biopharmaceutical company will post earnings per share of $2.75 for the year, up from their previous forecast of $2.45. Cantor Fitzgerald has a “Overweight” rating and a $45.00 price objective on the stock. The consensus estimate for Pfizer’s current full-year earnings is $2.67 per share.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share 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 analysts’ expectations of $14.92 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) EPS.

A number of other equities analysts have also commented on PFE. Wells Fargo & Company raised their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Citigroup assumed coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. UBS Group raised their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Stock Down 0.8 %

PFE opened at $28.29 on Thursday. The stock has a fifty day moving average of $29.05 and a 200-day moving average of $28.56. The company has a market capitalization of $160.31 billion, a P/E ratio of 38.23, a P/E/G ratio of 0.99 and a beta of 0.67. Pfizer has a fifty-two week low of $25.20 and a fifty-two 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.

Pfizer Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Mine & Arao Wealth Creation & Management LLC. acquired a new position in Pfizer in the 3rd quarter worth about $203,000. Beacon Harbor Wealth Advisors Inc. grew its holdings in shares of Pfizer by 1.4% during the third quarter. Beacon Harbor Wealth Advisors Inc. now owns 236,210 shares of the biopharmaceutical company’s stock worth $6,836,000 after purchasing an additional 3,169 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in shares of Pfizer during the third quarter worth about $1,042,000. Portside Wealth Group LLC increased its stake in shares of Pfizer by 6.9% in the third quarter. Portside Wealth Group LLC now owns 56,378 shares of the biopharmaceutical company’s stock valued at $1,632,000 after buying an additional 3,615 shares during the period. Finally, Keynote Financial Services LLC boosted its position in Pfizer by 4.0% during the 3rd quarter. Keynote Financial Services LLC now owns 68,284 shares of the biopharmaceutical company’s stock worth $1,976,000 after buying an additional 2,607 shares during the period. 68.36% of the stock is currently owned by institutional investors.

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.