Pfizer Receives “Neutral” Rating from Zacks (PFE)
Pfizer (NYSE:PFE)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Tuesday. They currently have a $31.00 price target on the stock. Zacks‘s price target would suggest a potential upside of 5.12% from the company’s current price.
Zacks’ analyst wrote, “Pfizer’s first quarter EPS grew 11.8% from the year-ago quarter to $0.57, a couple of cents above the Zacks Consensus Estimate. Revenues, which were impacted by genericization and the expiry of certain agreements, declined 9% from the year-ago period and missed the Zacks Consensus Estimate. Despite the decline in revenues, first quarter earnings grew from the year-ago period due to lower costs, a lower tax rate and a lower share count. Pfizer maintained its guidance for 2014. We believe revenues will remain under pressure going forward. However, cost-cutting efforts and share buybacks should help Pfizer achieve its earnings guidance. We maintain a Neutral recommendation on the stock.”
Pfizer (NYSE:PFE) traded up 0.54% during mid-day trading on Tuesday, hitting $29.65. The stock had a trading volume of 14,018,366 shares. Pfizer has a 1-year low of $27.12 and a 1-year high of $32.96. The stock’s 50-day moving average is $30.25 and its 200-day moving average is $31.06. The company has a market cap of $189.1 billion and a price-to-earnings ratio of 9.15. Pfizer also was the recipient of a significant drop in short interest during the month of April. As of April 30th, there was short interest totalling 52,494,773 shares, a drop of 5.2% from the April 15th total of 55,395,129 shares. Based on an average daily trading volume, of 32,409,762 shares, the short-interest ratio is presently 1.6 days. Currently, 0.8% of the company’s shares are sold short.
Pfizer (NYSE:PFE) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.57 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.56 by $0.01. The company had revenue of $11.35 million for the quarter, compared to the consensus estimate of $12.07 billion. During the same quarter last year, the company posted $0.54 earnings per share. Pfizer’s revenue was down 8.5% compared to the same quarter last year. Analysts expect that Pfizer will post $2.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, June 3rd. Stockholders of record on Friday, May 9th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Wednesday, May 7th.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs initiated coverage on shares of Pfizer in a research note on Tuesday. They set a “buy” rating on the stock. Separately, analysts at BMO Capital Markets cut their price target on shares of Pfizer from $36.00 to $34.00 in a research note on Tuesday, May 6th. Finally, analysts at Credit Suisse raised their price target on shares of Pfizer from $34.00 to $36.00 in a research note on Friday, May 2nd. They now have an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $32.76.
Pfizer Inc (NYSE:PFE) is a research-based, global biopharmaceutical company.
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