Pfizer Inc. (PFE) Rating Lowered to Hold at Jefferies Group
Pfizer Inc. (NYSE:PFE) was downgraded by research analysts at Jefferies Group to a “hold” rating in a research note issued on Thursday.
Several other brokerages have also issued reports on PFE. Sanford C. Bernstein set a $38.00 price target on Pfizer and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Barclays PLC reiterated an “equal weight” rating and issued a $34.00 price objective on shares of Pfizer in a report on Tuesday, August 2nd. Vetr downgraded Pfizer from a “buy” rating to a “hold” rating and set a $37.97 price objective for the company. in a report on Thursday, July 14th. Piper Jaffray Cos. set a $54.00 price objective on Pfizer and gave the company a “buy” rating in a report on Monday, July 25th. Finally, JPMorgan Chase & Co. set a $40.00 price objective on Pfizer and gave the company a “buy” rating in a report on Monday, July 25th. Eleven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $38.78.
Shares of Pfizer (NYSE:PFE) opened at 33.07 on Thursday. The stock’s 50 day moving average price is $34.14 and its 200 day moving average price is $34.26. The firm has a market capitalization of $200.59 billion, a price-to-earnings ratio of 29.32 and a beta of 0.86. Pfizer has a one year low of $28.25 and a one year high of $37.39.
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Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. Pfizer had a return on equity of 23.37% and a net margin of 14.88%. The business had revenue of $13.10 billion for the quarter, compared to analyst estimates of $13.01 billion. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts expect that Pfizer will post $2.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.63%. Pfizer’s dividend payout ratio (DPR) is currently 95.24%.
Several institutional investors have recently made changes to their positions in PFE. One Capital Management LLC raised its position in shares of Pfizer by 0.4% in the third quarter. One Capital Management LLC now owns 83,396 shares of the biopharmaceutical company’s stock worth $2,825,000 after buying an additional 310 shares during the period. Canandaigua National Bank & Trust Co. raised its position in shares of Pfizer by 1.3% in the third quarter. Canandaigua National Bank & Trust Co. now owns 167,953 shares of the biopharmaceutical company’s stock worth $5,689,000 after buying an additional 2,127 shares during the period. Prospera Financial Services Inc raised its position in shares of Pfizer by 28.2% in the third quarter. Prospera Financial Services Inc now owns 33,202 shares of the biopharmaceutical company’s stock worth $1,125,000 after buying an additional 7,297 shares during the period. Keystone Financial Planning Inc. raised its position in shares of Pfizer by 1.4% in the third quarter. Keystone Financial Planning Inc. now owns 175,419 shares of the biopharmaceutical company’s stock worth $5,941,000 after buying an additional 2,449 shares during the period. Finally, Nexus Investment Management Inc. raised its position in shares of Pfizer by 1.1% in the third quarter. Nexus Investment Management Inc. now owns 633,040 shares of the biopharmaceutical company’s stock worth $21,441,000 after buying an additional 6,620 shares during the period. Institutional investors own 69.66% of the company’s stock.
Pfizer Company Profile
Pfizer Inc is a research-based global biopharmaceutical company. The Company is engaged in discovering, developing and manufacturing of healthcare products. Its portfolio includes medicines, vaccines and medical devices, as well as consumer healthcare products. Its products include Prevnar/Prevenar 13, Lyrica, Enbrel, Lipitor, Viagra, Sutent, BeneFIX, Genotropin, ReFacto, Xyntha and Enbrel.
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