Pfizer Inc. Forecasted to Earn Q3 2022 Earnings of $1.91 Per Share (NYSE:PFE)

Pfizer Inc. (NYSE:PFEGet Rating) – SVB Leerink lifted their Q3 2022 earnings estimates for Pfizer in a research report issued on Wednesday, June 22nd. SVB Leerink analyst D. Risinger now anticipates that the biopharmaceutical company will post earnings of $1.91 per share for the quarter, up from their previous forecast of $1.86. SVB Leerink has a “Market Perform” rating and a $55.00 price objective on the stock. The consensus estimate for Pfizer’s current full-year earnings is $6.61 per share. SVB Leerink also issued estimates for Pfizer’s FY2022 earnings at $6.69 EPS, Q1 2023 earnings at $1.47 EPS, Q2 2023 earnings at $1.41 EPS, Q3 2023 earnings at $1.56 EPS, FY2023 earnings at $5.90 EPS, FY2024 earnings at $4.99 EPS and FY2025 earnings at $4.70 EPS.

Pfizer (NYSE:PFEGet Rating) last announced its earnings results on Tuesday, May 3rd. The biopharmaceutical company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.04). Pfizer had a net margin of 26.97% and a return on equity of 38.29%. The firm had revenue of $25.66 billion during the quarter, compared to analysts’ expectations of $24.73 billion. During the same quarter last year, the company posted $0.93 earnings per share. Pfizer’s revenue for the quarter was up 76.8% compared to the same quarter last year.

Several other equities analysts have also recently commented on the stock. Citigroup raised their target price on shares of Pfizer from $46.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday, April 5th. Barclays set a $52.00 target price on shares of Pfizer in a report on Tuesday, May 17th. StockNews.com upgraded shares of Pfizer from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 19th. Wells Fargo & Company decreased their price target on shares of Pfizer from $60.00 to $55.00 in a report on Wednesday, May 4th. Finally, JPMorgan Chase & Co. set a $57.00 price target on shares of Pfizer in a report on Tuesday, May 3rd. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.26.

PFE stock opened at $50.09 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.39 and a debt-to-equity ratio of 0.43. Pfizer has a fifty-two week low of $38.82 and a fifty-two week high of $61.71. The firm’s 50-day simple moving average is $50.51 and its 200 day simple moving average is $52.21. The stock has a market cap of $281.05 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 0.58 and a beta of 0.76.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Wednesday, June 29th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.19%. Pfizer’s payout ratio is 36.70%.

In related news, SVP Jennifer B. Damico sold 4,000 shares of the firm’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $50.50, for a total value of $202,000.00. Following the sale, the senior vice president now directly owns 15,064 shares of the company’s stock, valued at $760,732. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William R. Carapezzi, Jr. sold 32,908 shares of Pfizer stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $50.00, for a total value of $1,645,400.00. Following the sale, the executive vice president now directly owns 38,146 shares in the company, valued at $1,907,300. The disclosure for this sale can be found here. Insiders have sold a total of 41,126 shares of company stock worth $2,075,003 in the last quarter. Company insiders own 0.05% of the company’s stock.

A number of hedge funds have recently modified their holdings of PFE. Baltimore Washington Financial Advisors Inc. acquired a new stake in Pfizer in the fourth quarter valued at approximately $290,000. PYA Waltman Capital LLC purchased a new position in Pfizer in the fourth quarter worth $31,000. Econ Financial Services Corp purchased a new position in Pfizer in the fourth quarter worth $31,000. Rinkey Investments purchased a new position in Pfizer in the fourth quarter worth $32,000. Finally, Worth Asset Management LLC purchased a new position in Pfizer in the first quarter worth $29,000. Institutional investors and hedge funds own 66.50% of the company’s stock.

Pfizer Company Profile (Get Rating)

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women's health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.

Further Reading

Earnings History and Estimates for Pfizer (NYSE:PFE)

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