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Why the Market Dipped But Pfizer (PFE) Gained Today
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Pfizer (PFE - Free Report) closed the latest trading day at $25.91, indicating a +0.19% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 1.2%. Elsewhere, the Dow saw a downswing of 0.65%, while the tech-heavy Nasdaq depreciated by 1.79%.
Heading into today, shares of the drugmaker had lost 7.44% over the past month, lagging the Medical sector's loss of 6.57% and the S&P 500's loss of 0.85% in that time.
The investment community will be paying close attention to the earnings performance of Pfizer in its upcoming release. The company is slated to reveal its earnings on May 1, 2024. The company is forecasted to report an EPS of $0.56, showcasing a 54.47% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $13.79 billion, indicating a 24.57% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.22 per share and a revenue of $59.99 billion, indicating changes of +20.65% and +2.56%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Pfizer. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.18% higher. Pfizer is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Pfizer currently has a Forward P/E ratio of 11.66. For comparison, its industry has an average Forward P/E of 13.84, which means Pfizer is trading at a discount to the group.
Meanwhile, PFE's PEG ratio is currently 1.16. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.69 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 202, this industry ranks in the bottom 20% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Why the Market Dipped But Pfizer (PFE) Gained Today
Pfizer (PFE - Free Report) closed the latest trading day at $25.91, indicating a +0.19% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 1.2%. Elsewhere, the Dow saw a downswing of 0.65%, while the tech-heavy Nasdaq depreciated by 1.79%.
Heading into today, shares of the drugmaker had lost 7.44% over the past month, lagging the Medical sector's loss of 6.57% and the S&P 500's loss of 0.85% in that time.
The investment community will be paying close attention to the earnings performance of Pfizer in its upcoming release. The company is slated to reveal its earnings on May 1, 2024. The company is forecasted to report an EPS of $0.56, showcasing a 54.47% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $13.79 billion, indicating a 24.57% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.22 per share and a revenue of $59.99 billion, indicating changes of +20.65% and +2.56%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Pfizer. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.18% higher. Pfizer is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Pfizer currently has a Forward P/E ratio of 11.66. For comparison, its industry has an average Forward P/E of 13.84, which means Pfizer is trading at a discount to the group.
Meanwhile, PFE's PEG ratio is currently 1.16. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.69 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 202, this industry ranks in the bottom 20% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.