Pfizer Inc. (NYSE:PFE) to Issue $0.42 Quarterly Dividend

Pfizer Inc. (NYSE:PFE) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Shareholders of record on Friday, May 10th will be given a dividend of 0.42 per share by the biopharmaceutical company on Friday, June 14th. This represents a $1.68 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend is Thursday, May 9th.

Pfizer has raised its dividend by an average of 2.6% annually over the last three years and has increased its dividend annually for the last 15 consecutive years. Pfizer has a payout ratio of 61.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Pfizer to earn $2.75 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 61.1%.

Pfizer Stock Performance

Shares of PFE opened at $27.78 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69. The business has a 50-day simple moving average of $26.92 and a two-hundred day simple moving average of $28.12. The stock has a market cap of $157.28 billion, a price-to-earnings ratio of -462.84, a PEG ratio of 1.17 and a beta of 0.63. Pfizer has a 52 week low of $25.20 and a 52 week high of $40.37.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. The business’s quarterly revenue was down 19.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 earnings per share. On average, analysts expect that Pfizer will post 2.39 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Monday, April 15th. Morgan Stanley increased their target price on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $36.00 target price (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Guggenheim began coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 target price for the company. Finally, Argus cut Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.00.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.