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

Pfizer Inc. (NYSE:PFE) declared a quarterly dividend on Wednesday, October 9th, RTT News reports. Shareholders of record on Friday, November 8th will be given a dividend of 0.42 per share by the biopharmaceutical company on Monday, December 2nd. This represents a $1.68 annualized dividend and a yield of 5.56%.

Pfizer has raised its dividend payment by an average of 2.6% annually over the last three years and has increased its dividend every year for the last 15 years. Pfizer has a dividend payout ratio of 58.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Pfizer to earn $2.84 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 59.2%.

Pfizer Price Performance

NYSE PFE opened at $30.20 on Thursday. Pfizer has a fifty-two week low of $25.20 and a fifty-two week high of $33.92. The stock’s 50-day moving average is $29.09 and its two-hundred day moving average is $28.35. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm has a market cap of $171.10 billion, a P/E ratio of -503.25, a price-to-earnings-growth ratio of 1.23 and a beta of 0.67.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. On average, analysts anticipate that Pfizer will post 2.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Thursday, October 3rd. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. UBS Group boosted their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Company Profile

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.