Pfizer, Inc. Expected to Post Q3 2017 Earnings of $0.61 Per Share (NYSE:PFE)
Pfizer, Inc. (NYSE:PFE) – Research analysts at SunTrust Banks boosted their Q3 2017 earnings per share estimates for shares of Pfizer in a report released on Sunday. SunTrust Banks analyst J. Boris now anticipates that the biopharmaceutical company will post earnings of $0.61 per share for the quarter, up from their previous forecast of $0.59.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Pfizer had a return on equity of 24.11% and a net margin of 15.84%. The company had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $13.08 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The firm’s revenue was down 1.9% compared to the same quarter last year.
PFE has been the topic of a number of other research reports. Sanford C. Bernstein set a $39.00 price target on shares of Pfizer and gave the company a “buy” rating in a report on Monday, July 17th. BMO Capital Markets upgraded shares of Pfizer from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $33.00 to $37.00 in a report on Wednesday, August 2nd. UBS AG restated a “buy” rating and set a $38.00 target price on shares of Pfizer in a report on Monday, July 31st. BidaskClub upgraded shares of Pfizer from a “strong sell” rating to a “sell” rating in a report on Friday, June 23rd. Finally, Jefferies Group LLC restated a “neutral” rating and set a $35.00 target price (up previously from $34.00) on shares of Pfizer in a report on Thursday, April 13th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. Pfizer currently has a consensus rating of “Hold” and a consensus target price of $37.77.
Pfizer (NYSE:PFE) opened at 33.28 on Wednesday. The firm’s 50-day moving average price is $33.43 and its 200-day moving average price is $33.25. Pfizer has a 1-year low of $29.83 and a 1-year high of $35.38. The firm has a market capitalization of $198.61 billion, a PE ratio of 24.35 and a beta of 1.00.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Wednesday, August 2nd. Pfizer’s payout ratio is currently 94.12%.
In other news, CEO Ian C. Read sold 96,950 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $34.00, for a total value of $3,296,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Pfizer during the fourth quarter valued at $1,896,890,000. Fisher Asset Management LLC increased its stake in Pfizer by 3.9% in the second quarter. Fisher Asset Management LLC now owns 34,035,362 shares of the biopharmaceutical company’s stock valued at $1,143,248,000 after buying an additional 1,275,832 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Pfizer by 6.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 33,274,658 shares of the biopharmaceutical company’s stock valued at $1,117,696,000 after buying an additional 2,013,835 shares during the last quarter. Legal & General Group Plc increased its stake in Pfizer by 0.9% in the second quarter. Legal & General Group Plc now owns 31,463,283 shares of the biopharmaceutical company’s stock valued at $1,056,857,000 after buying an additional 292,839 shares during the last quarter. Finally, Macquarie Group Ltd. increased its stake in Pfizer by 0.9% in the first quarter. Macquarie Group Ltd. now owns 24,683,746 shares of the biopharmaceutical company’s stock valued at $844,431,000 after buying an additional 228,405 shares during the last quarter. 70.10% of the stock is owned by institutional investors.
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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