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Pfizer (PFE) Tops Q3 Earnings Estimates, Sales In Line
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Pfizer Inc.’s (PFE - Free Report) is one of the most well-known names in the pharmaceutical sector not just for its medicines and vaccines but also for its consumer healthcare products. This New York-based company is well known for products like Prevnar, Lyrica, Lipitor and Celebrex among others.
However, like many of its peers, PFE is facing generic competition and pricing pressure for several products like Lipitor, Norvasc, Protonix, Camptosar, Celebrex and Zoloft. Other than that lost alliance revenues, pricing pressure and rising competition are hurting the top-line.
In this scenario, investor focus remains on late-stage pipeline candidates and their commercial potential and performance of new products apart from the usual top-and bottom-line numbers.
The pharma giant has a mixed record of earnings surprises. The company’s earnings surpassed expectations in two of the last four quarters while missing in the other two, resulting in an average negative surprise of 0.39%.
Currently, PFE has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earning Beat: PFE beat third quarter earnings which came in at 67 cents while our consensus called for EPS of 65 cents. Earnings rose 10% year over year.
Revenues In-Line: Revenues were in-line with expectations. Pfizer posted revenues of $13.17 billion, which were in-line with the Zacks Consensus Estimate. Revenues rose 1% from the year-ago quarter both on a reported and operational basis.
2017 Guidance: While Pfizer raised its adjusted earnings guidance, it tightened the revenue expectations for the year. Revenues are expected in the range of $52.4 billion to $53.1 billion versus $52 billion to $54 billion, previously. The Zacks Consensus Estimate stood at $52.65 billion.
Adjusted earnings per share are expected in the range of $2.58 - $2.62 compared with $2.54 - $2.60 expected previously. The Zacks Consensus Estimate stood at $2.56 per share.
Pre-Market Trading: Shares rose more than 1% in pre-market trading.
Check back later for our full write up on this PFE earnings report later!
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Pfizer (PFE) Tops Q3 Earnings Estimates, Sales In Line
Pfizer Inc.’s (PFE - Free Report) is one of the most well-known names in the pharmaceutical sector not just for its medicines and vaccines but also for its consumer healthcare products. This New York-based company is well known for products like Prevnar, Lyrica, Lipitor and Celebrex among others.
However, like many of its peers, PFE is facing generic competition and pricing pressure for several products like Lipitor, Norvasc, Protonix, Camptosar, Celebrex and Zoloft. Other than that lost alliance revenues, pricing pressure and rising competition are hurting the top-line.
In this scenario, investor focus remains on late-stage pipeline candidates and their commercial potential and performance of new products apart from the usual top-and bottom-line numbers.
The pharma giant has a mixed record of earnings surprises. The company’s earnings surpassed expectations in two of the last four quarters while missing in the other two, resulting in an average negative surprise of 0.39%.
Currently, PFE has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earning Beat: PFE beat third quarter earnings which came in at 67 cents while our consensus called for EPS of 65 cents. Earnings rose 10% year over year.
Revenues In-Line: Revenues were in-line with expectations. Pfizer posted revenues of $13.17 billion, which were in-line with the Zacks Consensus Estimate. Revenues rose 1% from the year-ago quarter both on a reported and operational basis.
2017 Guidance: While Pfizer raised its adjusted earnings guidance, it tightened the revenue expectations for the year. Revenues are expected in the range of $52.4 billion to $53.1 billion versus $52 billion to $54 billion, previously. The Zacks Consensus Estimate stood at $52.65 billion.
Adjusted earnings per share are expected in the range of $2.58 - $2.62 compared with $2.54 - $2.60 expected previously. The Zacks Consensus Estimate stood at $2.56 per share.
Pre-Market Trading: Shares rose more than 1% in pre-market trading.
Check back later for our full write up on this PFE earnings report later!
Pfizer, Inc. Price and Consensus
Pfizer, Inc. Price and Consensus | Pfizer, Inc. Quote
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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