Pfizer, Inc. (PFE) Expected to Announce Quarterly Sales of $13.16 Billion
Brokerages expect Pfizer, Inc. (NYSE:PFE) to report $13.16 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Pfizer’s earnings, with estimates ranging from $13.02 billion to $13.41 billion. Pfizer posted sales of $13.05 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.8%. The business is expected to announce its next earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Pfizer will report full year sales of $13.16 billion for the current fiscal year, with estimates ranging from $52.21 billion to $53.27 billion. For the next year, analysts forecast that the firm will report sales of $53.91 billion per share, with estimates ranging from $52.81 billion to $54.78 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Pfizer.
Pfizer (NYSE:PFE) last released its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. The firm had revenue of $12.90 billion during the quarter, compared to analyst estimates of $13.08 billion. Pfizer had a return on equity of 24.51% and a net margin of 15.84%. Pfizer’s revenue was down 1.9% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share.
PFE has been the subject of several recent research reports. Jefferies Group LLC set a $35.00 price target on Pfizer and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Berenberg Bank set a $39.00 price target on Pfizer and gave the company a “neutral” rating in a report on Tuesday, August 1st. Morgan Stanley reiterated a “neutral” rating and issued a $35.00 price target (down from $38.00) on shares of Pfizer in a report on Monday, June 12th. Zacks Investment Research upgraded Pfizer from a “sell” rating to a “hold” rating in a report on Friday, July 14th. Finally, Citigroup Inc. downgraded Pfizer from a “neutral” rating to a “sell” rating and lowered their price target for the company from $38.00 to $31.00 in a report on Tuesday, May 16th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $37.61.
In other news, CEO Ian C. Read sold 96,950 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $34.00, for a total transaction of $3,296,300.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander R. Mackenzie sold 15,000 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $33.50, for a total transaction of $502,500.00. Following the transaction, the insider now directly owns 151,474 shares in the company, valued at approximately $5,074,379. The disclosure for this sale can be found here. Insiders have sold 418,941 shares of company stock worth $14,226,011 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Asset Planning Services Ltd. boosted its position in shares of Pfizer by 4.9% in the first quarter. Asset Planning Services Ltd. now owns 2,961 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 137 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in shares of Pfizer during the second quarter worth about $102,000. Mckinley Capital Management LLC Delaware acquired a new position in shares of Pfizer during the second quarter worth about $103,000. D. Scott Neal Inc. boosted its position in shares of Pfizer by 19.3% in the second quarter. D. Scott Neal Inc. now owns 3,112 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 504 shares in the last quarter. Finally, Orrstown Financial Services Inc. boosted its position in shares of Pfizer by 23.0% in the first quarter. Orrstown Financial Services Inc. now owns 3,275 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 612 shares in the last quarter. 69.09% of the stock is currently owned by institutional investors and hedge funds.
Pfizer (PFE) opened at 33.96 on Friday. Pfizer has a 12-month low of $29.83 and a 12-month high of $35.18. The stock has a market capitalization of $201.97 billion, a price-to-earnings ratio of 24.84 and a beta of 1.00. The company has a 50-day moving average price of $33.30 and a 200-day moving average price of $33.47.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were given a dividend of $0.32 per share. The ex-dividend date was Wednesday, August 2nd. This represents a $1.28 annualized dividend and a dividend yield of 3.77%. Pfizer’s payout ratio is 94.12%.
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Pfizer Company Profile
Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).
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