FY2024 Earnings Forecast for Pfizer Issued By Zacks Research

Pfizer Inc. (NYSE:PFE) – Research analysts at Zacks Research upped their FY2024 earnings per share estimates for Pfizer in a report released on Monday, November 18th. Zacks Research analyst K. Shah now anticipates that the biopharmaceutical company will earn $2.87 per share for the year, up from their previous forecast of $2.57. The consensus estimate for Pfizer’s current full-year earnings is $2.96 per share. Zacks Research also issued estimates for Pfizer’s Q2 2026 earnings at $0.63 EPS, Q3 2026 earnings at $0.78 EPS and FY2026 earnings at $2.94 EPS.

A number of other research firms have also recently weighed in on PFE. Citigroup began coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. UBS Group boosted their price objective 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 research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Finally, Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $32.92.

Pfizer Stock Performance

PFE stock opened at $24.95 on Wednesday. The stock has a market capitalization of $141.36 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 0.79 and a beta of 0.67. The stock’s fifty day moving average is $28.36 and its two-hundred day moving average is $28.61. Pfizer has a 1 year low of $24.48 and a 1 year high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.17) EPS.

Hedge Funds Weigh In On Pfizer

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp boosted its stake in shares of Pfizer by 1.2% in the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock valued at $8,405,930,000 after purchasing an additional 3,405,539 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Pfizer by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after buying an additional 12,864,343 shares during the last quarter. Geode Capital Management LLC increased its position in Pfizer by 1.6% in the third quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock worth $3,392,342,000 after purchasing an additional 1,855,419 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after buying an additional 2,241,609 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Pfizer by 22.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock valued at $1,101,713,000 after purchasing an additional 6,977,587 shares during the period. 68.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

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 $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.73%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio is currently 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.