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Pfizer (PFE) Gains But Lags Market: What You Should Know
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Pfizer (PFE - Free Report) closed the latest trading day at $28.31, indicating a +0.11% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.22% for the day. Meanwhile, the Dow experienced a rise of 0.36%, and the technology-dominated Nasdaq saw an increase of 0.32%.
Prior to today's trading, shares of the drugmaker had lost 0.42% over the past month. This has lagged the Medical sector's gain of 2.3% and the S&P 500's gain of 1.61% in that time.
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 January 30, 2024. The company is forecasted to report an EPS of -$0.18, showcasing a 115.79% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $14.26 billion, showing a 41.28% drop compared to the year-ago quarter.
Any recent changes to analyst estimates for Pfizer should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.47% lower. Pfizer currently has a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Pfizer is holding a Forward P/E ratio of 12.75. For comparison, its industry has an average Forward P/E of 14.72, which means Pfizer is trading at a discount to the group.
It's also important to note that PFE currently trades at a PEG ratio of 1.82. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.82 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Pfizer (PFE) Gains But Lags Market: What You Should Know
Pfizer (PFE - Free Report) closed the latest trading day at $28.31, indicating a +0.11% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.22% for the day. Meanwhile, the Dow experienced a rise of 0.36%, and the technology-dominated Nasdaq saw an increase of 0.32%.
Prior to today's trading, shares of the drugmaker had lost 0.42% over the past month. This has lagged the Medical sector's gain of 2.3% and the S&P 500's gain of 1.61% in that time.
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 January 30, 2024. The company is forecasted to report an EPS of -$0.18, showcasing a 115.79% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $14.26 billion, showing a 41.28% drop compared to the year-ago quarter.
Any recent changes to analyst estimates for Pfizer should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.47% lower. Pfizer currently has a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Pfizer is holding a Forward P/E ratio of 12.75. For comparison, its industry has an average Forward P/E of 14.72, which means Pfizer is trading at a discount to the group.
It's also important to note that PFE currently trades at a PEG ratio of 1.82. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.82 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.