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Pfizer (PFE) Rises But Trails Market: What Investors Should Know
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The latest trading session saw Pfizer (PFE - Free Report) ending at $28.97, denoting a +0.14% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.6%.
Shares of the drugmaker witnessed a gain of 0.63% over the previous month, beating the performance of the Medical sector with its loss of 2.27% and underperforming the S&P 500's gain of 1.71%.
The investment community will be closely monitoring the performance of Pfizer in its forthcoming earnings report. The company is scheduled to release its earnings on October 29, 2024. The company is forecasted to report an EPS of $0.63, showcasing a 470.59% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $15.46 billion, indicating a 16.82% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $2.62 per share and a revenue of $61.49 billion, demonstrating changes of +42.39% and +5.12%, respectively, from the preceding year.
Any recent changes to analyst estimates for Pfizer should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Pfizer is carrying a Zacks Rank of #2 (Buy).
Digging into valuation, Pfizer currently has a Forward P/E ratio of 11.02. This expresses a discount compared to the average Forward P/E of 15.78 of its industry.
We can additionally observe that PFE currently boasts a PEG ratio of 1.26. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.67 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 44, positioning it in the top 18% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Pfizer (PFE) Rises But Trails Market: What Investors Should Know
The latest trading session saw Pfizer (PFE - Free Report) ending at $28.97, denoting a +0.14% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.6%.
Shares of the drugmaker witnessed a gain of 0.63% over the previous month, beating the performance of the Medical sector with its loss of 2.27% and underperforming the S&P 500's gain of 1.71%.
The investment community will be closely monitoring the performance of Pfizer in its forthcoming earnings report. The company is scheduled to release its earnings on October 29, 2024. The company is forecasted to report an EPS of $0.63, showcasing a 470.59% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $15.46 billion, indicating a 16.82% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $2.62 per share and a revenue of $61.49 billion, demonstrating changes of +42.39% and +5.12%, respectively, from the preceding year.
Any recent changes to analyst estimates for Pfizer should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Pfizer is carrying a Zacks Rank of #2 (Buy).
Digging into valuation, Pfizer currently has a Forward P/E ratio of 11.02. This expresses a discount compared to the average Forward P/E of 15.78 of its industry.
We can additionally observe that PFE currently boasts a PEG ratio of 1.26. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.67 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 44, positioning it in the top 18% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.