Pfizer Inc. (NYSE:PFE) Announces $0.42 Quarterly Dividend

Pfizer Inc. (NYSE:PFE) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Stockholders of record on Friday, May 10th will be paid a dividend of 0.42 per share by the biopharmaceutical company on Friday, June 14th. This represents a $1.68 annualized dividend and a dividend yield of 6.05%. The ex-dividend date of this dividend is Thursday, May 9th.

Pfizer has raised its dividend by an average of 2.6% per year over the last three years and has raised its dividend every year for the last 15 years. Pfizer has a payout ratio of 61.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pfizer to earn $2.75 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 61.1%.

Pfizer Price Performance

Shares of NYSE PFE opened at $27.78 on Wednesday. The business has a fifty day moving average price of $26.92 and a two-hundred day moving average price of $28.12. The stock has a market capitalization of $157.28 billion, a PE ratio of -462.84, a P/E/G ratio of 1.17 and a beta of 0.63. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. Pfizer has a fifty-two week low of $25.20 and a fifty-two week high of $40.37.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The firm had revenue of $14.88 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the company posted $1.23 earnings per share. The business’s revenue for the quarter was down 19.5% on a year-over-year basis. As a group, equities analysts predict that Pfizer will post 2.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Monday, April 15th. Guggenheim began coverage on Pfizer in a research report on Friday, February 23rd. They issued a “buy” rating and a $36.00 target price on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 target price (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Morgan Stanley lifted their price target on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Finally, Argus cut Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Pfizer presently has an average rating of “Hold” and an average target price of $36.00.

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.