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Here's Why Pfizer (PFE) Fell More Than Broader Market
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Pfizer (PFE - Free Report) closed the latest trading day at $29.42, indicating a -0.83% change from the previous session's end. This move lagged the S&P 500's daily loss of 0.19%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Shares of the drugmaker have appreciated by 3.06% over the course of the past month, outperforming the Medical sector's gain of 1.44% and the S&P 500's gain of 2.06%.
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 October 29, 2024. The company's upcoming EPS is projected at $0.63, signifying a 470.59% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.46 billion, up 16.82% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.62 per share and a revenue of $61.49 billion, representing changes of +42.39% and +5.12%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Pfizer. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Pfizer is currently sporting a Zacks Rank of #2 (Buy).
In the context of valuation, Pfizer is at present trading with a Forward P/E ratio of 11.3. Its industry sports an average Forward P/E of 15.96, so one might conclude that Pfizer is trading at a discount comparatively.
Investors should also note that PFE has a PEG ratio of 1.3 right now. 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. PFE's industry had an average PEG ratio of 1.69 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 82, placing it within the top 33% of over 250 industries.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Here's Why Pfizer (PFE) Fell More Than Broader Market
Pfizer (PFE - Free Report) closed the latest trading day at $29.42, indicating a -0.83% change from the previous session's end. This move lagged the S&P 500's daily loss of 0.19%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Shares of the drugmaker have appreciated by 3.06% over the course of the past month, outperforming the Medical sector's gain of 1.44% and the S&P 500's gain of 2.06%.
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 October 29, 2024. The company's upcoming EPS is projected at $0.63, signifying a 470.59% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.46 billion, up 16.82% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.62 per share and a revenue of $61.49 billion, representing changes of +42.39% and +5.12%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Pfizer. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Pfizer is currently sporting a Zacks Rank of #2 (Buy).
In the context of valuation, Pfizer is at present trading with a Forward P/E ratio of 11.3. Its industry sports an average Forward P/E of 15.96, so one might conclude that Pfizer is trading at a discount comparatively.
Investors should also note that PFE has a PEG ratio of 1.3 right now. 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. PFE's industry had an average PEG ratio of 1.69 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 82, placing it within the top 33% of over 250 industries.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.