Pfizer (PFE) Updates FY18 Earnings Guidance
Pfizer (NYSE:PFE) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.90-3.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.78. The company issued revenue guidance of $53.5-55.5 billion, compared to the consensus revenue estimate of $53.82 billion.
Several brokerages have weighed in on PFE. BMO Capital Markets set a $39.00 price target on Pfizer and gave the stock a buy rating in a report on Tuesday. Zacks Investment Research upgraded Pfizer from a hold rating to a buy rating and set a $41.00 price target on the stock in a report on Wednesday, January 24th. Jefferies Group set a $38.00 price target on Pfizer and gave the stock a neutral rating in a report on Monday, October 16th. SunTrust Banks restated a hold rating and set a $40.00 price target (up previously from $33.00) on shares of Pfizer in a report on Monday. Finally, Vetr downgraded Pfizer from a buy rating to a hold rating and set a $37.98 price target on the stock. in a report on Monday, January 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $38.22.
Shares of Pfizer (PFE) opened at $39.02 on Tuesday. Pfizer has a 1 year low of $30.93 and a 1 year high of $39.43. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.43. The firm has a market capitalization of $232,527.17, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.49%. This is a boost from Pfizer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, February 1st. Pfizer’s dividend payout ratio (DPR) is presently 79.01%.
Pfizer announced that its board has authorized a share repurchase program on Monday, December 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In other news, insider Alexander R. Mackenzie sold 6,750 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $37.00, for a total transaction of $249,750.00. Following the completion of the transaction, the insider now directly owns 103,458 shares of the company’s stock, valued at approximately $3,827,946. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Alexander R. Mackenzie sold 14,700 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $35.30, for a total value of $518,910.00. Following the transaction, the insider now directly owns 117,432 shares of the company’s stock, valued at $4,145,349.60. The disclosure for this sale can be found here. Insiders have sold a total of 29,450 shares of company stock valued at $1,065,220 over the last ninety days. 0.06% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of PFE. Janus Henderson Group PLC raised its stake in shares of Pfizer by 243.5% during the 2nd quarter. Janus Henderson Group PLC now owns 13,175,187 shares of the biopharmaceutical company’s stock worth $442,574,000 after buying an additional 9,339,749 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Pfizer by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 418,639,111 shares of the biopharmaceutical company’s stock worth $14,062,088,000 after buying an additional 9,239,499 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Pfizer during the 2nd quarter worth approximately $268,389,000. Parametric Portfolio Associates LLC raised its stake in shares of Pfizer by 42.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 17,818,368 shares of the biopharmaceutical company’s stock worth $598,519,000 after buying an additional 5,281,314 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Pfizer by 46.9% during the 2nd quarter. Principal Financial Group Inc. now owns 14,615,268 shares of the biopharmaceutical company’s stock worth $490,927,000 after buying an additional 4,664,868 shares in the last quarter. 69.87% of the stock is owned by institutional investors and hedge funds.
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Pfizer Company Profile
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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