Zacks: Analysts Expect Pfizer Inc. (NYSE:PFE) Will Announce Quarterly Sales of $22.50 Billion

Analysts expect Pfizer Inc. (NYSE:PFE) to post $22.50 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Pfizer’s earnings, with the lowest sales estimate coming in at $19.38 billion and the highest estimate coming in at $24.69 billion. Pfizer posted sales of $12.13 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 85.5%. The company is expected to announce its next quarterly earnings results on Tuesday, October 26th.

On average, analysts expect that Pfizer will report full year sales of $80.95 billion for the current financial year, with estimates ranging from $71.37 billion to $85.09 billion. For the next year, analysts anticipate that the firm will post sales of $66.36 billion, with estimates ranging from $51.90 billion to $79.27 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Pfizer.

Pfizer (NYSE:PFE) last released its earnings results on Wednesday, July 28th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.10. Pfizer had a return on equity of 26.49% and a net margin of 23.06%. The firm had revenue of $18.98 billion during the quarter, compared to analysts’ expectations of $17.54 billion. During the same period in the prior year, the company earned $0.78 earnings per share.

Several research firms have weighed in on PFE. Mizuho upped their target price on Pfizer from $42.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, July 30th. Truist initiated coverage on Pfizer in a research note on Tuesday, July 27th. They issued a “buy” rating and a $43.00 price target for the company. Royal Bank of Canada set a $44.00 price target on Pfizer in a research note on Thursday, July 29th. Morgan Stanley increased their price target on Pfizer from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 29th. Finally, SVB Leerink increased their price target on Pfizer from $49.00 to $50.00 and gave the company a “market perform” rating in a research note on Monday, September 20th. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $42.85.

In other news, SVP Jennifer B. Damico sold 2,500 shares of the stock in a transaction dated Friday, July 30th. The shares were sold at an average price of $42.86, for a total transaction of $107,150.00. Following the transaction, the senior vice president now owns 11,430 shares of the company’s stock, valued at approximately $489,889.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jennifer B. Damico sold 1,661 shares of the stock in a transaction dated Friday, August 13th. The stock was sold at an average price of $48.30, for a total transaction of $80,226.30. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. OLD Mission Capital LLC bought a new position in Pfizer in the 3rd quarter valued at about $291,000. Lehman & Derafelo Financial Resources LLC lifted its position in Pfizer by 3.6% in the 1st quarter. Lehman & Derafelo Financial Resources LLC now owns 212,511 shares of the biopharmaceutical company’s stock valued at $7,699,000 after acquiring an additional 7,354 shares in the last quarter. Ironwood Wealth Management LLC. lifted its position in Pfizer by 1.6% in the 1st quarter. Ironwood Wealth Management LLC. now owns 35,385 shares of the biopharmaceutical company’s stock valued at $1,282,000 after acquiring an additional 550 shares in the last quarter. Petix & Botte Co bought a new position in Pfizer in the 1st quarter valued at about $187,000. Finally, Prospera Financial Services Inc lifted its position in Pfizer by 11.1% in the 1st quarter. Prospera Financial Services Inc now owns 76,241 shares of the biopharmaceutical company’s stock valued at $2,762,000 after acquiring an additional 7,626 shares in the last quarter. 64.93% of the stock is currently owned by institutional investors.

NYSE PFE traded down $0.25 on Friday, hitting $43.94. 16,127,272 shares of the company’s stock were exchanged, compared to its average volume of 30,753,852. The stock has a 50-day moving average of $45.45 and a 200-day moving average of $40.83. The company has a current ratio of 1.37, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. Pfizer has a 52 week low of $33.36 and a 52 week high of $51.86. The stock has a market cap of $246.36 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 1.58 and a beta of 0.74.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 6th. Shareholders of record on Friday, November 5th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, November 4th. This represents a $1.56 dividend on an annualized basis and a yield of 3.55%. Pfizer’s payout ratio is currently 70.27%.

Pfizer Company Profile

Pfizer Inc is a research-based global biopharmaceutical company. It engages in the discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide. The firm work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases.

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Earnings History and Estimates for Pfizer (NYSE:PFE)

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