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Pfizer (PFE) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest market close, Pfizer (PFE - Free Report) reached $29.08, with a -0.27% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.77%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.87%.
Coming into today, shares of the drugmaker had lost 0.38% in the past month. In that same time, the Medical sector lost 3%, while the S&P 500 gained 4.87%.
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 is forecasted to report an EPS of $0.62, showcasing a 464.71% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $15.21 billion, up 14.97% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.66 per share and revenue of $61.3 billion, indicating changes of +44.57% and +4.79%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Pfizer. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Pfizer holds a Zacks Rank of #3 (Hold).
Investors should also note Pfizer's current valuation metrics, including its Forward P/E ratio of 10.96. This expresses a discount compared to the average Forward P/E of 15.82 of its industry.
We can also see that PFE currently has a PEG ratio of 1.02. 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. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 1.65.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 66, this industry ranks in the top 27% of all industries, numbering over 250.
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.
To follow PFE in the coming trading sessions, be sure to utilize Zacks.com.
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Pfizer (PFE) Stock Drops Despite Market Gains: Important Facts to Note
In the latest market close, Pfizer (PFE - Free Report) reached $29.08, with a -0.27% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.77%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.87%.
Coming into today, shares of the drugmaker had lost 0.38% in the past month. In that same time, the Medical sector lost 3%, while the S&P 500 gained 4.87%.
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 is forecasted to report an EPS of $0.62, showcasing a 464.71% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $15.21 billion, up 14.97% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.66 per share and revenue of $61.3 billion, indicating changes of +44.57% and +4.79%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Pfizer. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Pfizer holds a Zacks Rank of #3 (Hold).
Investors should also note Pfizer's current valuation metrics, including its Forward P/E ratio of 10.96. This expresses a discount compared to the average Forward P/E of 15.82 of its industry.
We can also see that PFE currently has a PEG ratio of 1.02. 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. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 1.65.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 66, this industry ranks in the top 27% of all industries, numbering over 250.
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.
To follow PFE in the coming trading sessions, be sure to utilize Zacks.com.