Cantor Fitzgerald Raises Earnings Estimates for Pfizer

Pfizer Inc. (NYSE:PFE) – Cantor Fitzgerald upped their FY2024 earnings per share (EPS) estimates for shares of Pfizer in a report issued on Wednesday, October 30th. Cantor Fitzgerald analyst L. Chen now forecasts that the biopharmaceutical company will post earnings of $2.75 per share for the year, up from their prior estimate of $2.45. Cantor Fitzgerald currently 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 announced its 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. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the prior year, the business posted ($0.17) earnings per share. The firm’s revenue was up 31.2% on a year-over-year basis.

PFE has been the topic of a number of other research reports. UBS Group upped their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Barclays raised their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company raised their price objective 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. Finally, Citigroup started coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Trading Down 0.8 %

PFE opened at $28.29 on Thursday. Pfizer has a twelve month low of $25.20 and a twelve month high of $31.54. The company has a fifty day moving average of $29.05 and a 200-day moving average of $28.56. The stock has a market cap of $160.31 billion, a PE ratio of 38.23, a price-to-earnings-growth ratio of 0.99 and a beta of 0.67. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.94%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Insiders Place Their Bets

In other news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Hedge funds and other institutional investors have recently modified their holdings of the business. Olistico Wealth LLC bought a new position in Pfizer in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new stake in Pfizer during the second quarter worth about $29,000. Quarry LP bought a new stake in Pfizer in the second quarter worth about $31,000. Financial Connections Group Inc. purchased a new position in Pfizer in the second quarter valued at about $34,000. Finally, ESL Trust Services LLC bought a new position in shares of Pfizer during the 1st quarter valued at approximately $37,000. Hedge funds and other 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.