Brokers Set Expectations for Pfizer, Inc.’s FY2017 Earnings (PFE)
Pfizer, Inc. (NYSE:PFE) – Equities researchers at SunTrust Banks lifted their FY2017 earnings per share estimates for shares of Pfizer in a research note issued to investors on Tuesday. SunTrust Banks analyst J. Boris now anticipates that the biopharmaceutical company will post earnings per share of $2.57 for the year, up from their previous estimate of $2.56. SunTrust Banks also issued estimates for Pfizer’s FY2019 earnings at $2.79 EPS and FY2021 earnings at $2.85 EPS.
Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. Pfizer had a return on equity of 24.51% and a net margin of 15.84%. The company had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $13.08 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. Pfizer’s quarterly revenue was down 1.9% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: “Brokers Set Expectations for Pfizer, Inc.’s FY2017 Earnings (PFE)” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another domain, it was stolen and reposted in violation of international copyright & trademark law. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/09/14/brokers-set-expectations-for-pfizer-inc-s-fy2017-earnings-pfe.html.
A number of other analysts have also recently weighed in on the stock. Vetr cut shares of Pfizer from a “buy” rating to a “hold” rating and set a $35.71 target price on the stock. in a research note on Wednesday. BMO Capital Markets reissued a “buy” rating and issued a $37.00 target price on shares of Pfizer in a research note on Wednesday, September 6th. Jefferies Group LLC set a $35.00 target price on shares of Pfizer and gave the company a “neutral” rating in a research note on Thursday, August 24th. Berenberg Bank reaffirmed a “hold” rating and set a $36.00 price objective (down from $39.00) on shares of Pfizer in a research note on Tuesday, August 15th. Finally, Cowen and Company set a $43.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a research note on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $37.72.
Pfizer (NYSE PFE) opened at 35.06 on Thursday. The firm has a 50-day moving average price of $33.44 and a 200-day moving average price of $33.49. The firm has a market capitalization of $208.51 billion, a P/E ratio of 25.65 and a beta of 1.00. Pfizer has a 52 week low of $29.83 and a 52 week high of $35.75.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 4th were issued a $0.32 dividend. The ex-dividend date was Wednesday, August 2nd. This represents a $1.28 annualized dividend and a yield of 3.65%. Pfizer’s dividend payout ratio is currently 94.12%.
In related news, CEO Ian C. Read sold 96,950 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $34.00, for a total value of $3,296,300.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ian C. Read sold 197,168 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $34.00, for a total transaction of $6,703,712.00. Following the completion of the transaction, the chief executive officer now owns 580,318 shares in the company, valued at $19,730,812. The disclosure for this sale can be found here. Insiders sold 426,291 shares of company stock worth $14,475,911 over the last 90 days. 0.06% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in PFE. Pure Financial Advisors Inc. lifted its holdings in Pfizer by 0.4% in the first quarter. Pure Financial Advisors Inc. now owns 22,091 shares of the biopharmaceutical company’s stock valued at $756,000 after buying an additional 84 shares during the period. Manning & Napier Advisors LLC lifted its holdings in Pfizer by 5.2% in the first quarter. Manning & Napier Advisors LLC now owns 719,433 shares of the biopharmaceutical company’s stock valued at $24,610,000 after buying an additional 35,433 shares during the period. Fulton Bank N.A. lifted its holdings in Pfizer by 4.6% in the first quarter. Fulton Bank N.A. now owns 44,359 shares of the biopharmaceutical company’s stock valued at $1,518,000 after buying an additional 1,949 shares during the period. Confluence Investment Management LLC lifted its holdings in Pfizer by 11.0% in the first quarter. Confluence Investment Management LLC now owns 2,076,157 shares of the biopharmaceutical company’s stock valued at $71,025,000 after buying an additional 206,250 shares during the period. Finally, West Oak Capital LLC lifted its holdings in Pfizer by 92.0% in the first quarter. West Oak Capital LLC now owns 23,505 shares of the biopharmaceutical company’s stock valued at $804,000 after buying an additional 11,262 shares during the period. Institutional investors and hedge funds own 69.09% of the company’s stock.
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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