Share price movements
On April 30, Pfizer (PFE) reported first-quarter results. The company reported revenues of $13.12 billion in the first quarter, a YoY rise of 2% on a reported basis and 5% on an operational basis. According to the company’s first-quarter earnings conference call, this performance was driven by 8% YoY volume growth but partly offset by a 3% drop in pricing.
In the first quarter, Pfizer reported GAAP EPS of $0.68, a YoY rise of 15.25%. The company reported non-GAAP EPS of $0.85, a YoY rise of 10.39% on a reported basis.
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Pfizer surpassed consensus revenue estimates by $110 million and the consensus EPS estimate by $0.10 in the first quarter. After the results, Pfizer closed at $40.61 on April 30, 2.58% higher than the previous close, 18.16% higher than the 52-week low of $34.37, and 12.61% lower than the 52-week high of $46.47. The company’s market capitalization was $235.17 billion and PE, forward PE, PS (price-to-sales), PB (price-to-book), and PC (price-to-cash) ratios were 23.62x, 13.26x, 4.38x, 3.71x, and 12.49x, respectively. On May 1, the stock closed at $40.77, 0.39% higher than the previous close.
On April 30, Pfizer’s 14-day RSI (relative strength index) was 44.98. The number of outstanding shares for the company is 5.79 billion, while the short float ratio is 2.77%.
Analysts’ recommendations and target price
Wall Street analysts expect upside potential of 8.52% for Pfizer based on the company’s closing price on April 30. Analysts have changed the company’s 12-month consensus target price from $44.54 in January to $44.14 in February to $44.36 in March and then to $44.07 in April.
Out of 15 analysts covering Pfizer, two analysts recommend a “strong buy,” five recommend a “buy,” seven recommend a “hold,” and one recommends a “strong sell.” The consensus recommendation for the company is “hold.”