What to Expect From Pfizer's Next Quarterly Earnings Report

Valued at a market cap of $152.2 billion, Pfizer Inc. (PFE) is a global biopharmaceutical company dedicated to advancing healthcare through discovering, developing, manufacturing, and distributing innovative medicines and vaccines. The company's extensive portfolio encompasses products like Eliquis, Comirnaty, and Paxlovid, addressing worldwide health challenges. The New York-based company is expected to announce its fiscal Q4 earnings results before the market opens on Tuesday, Feb. 4. 

Ahead of this event, analysts expect the drugmaker to report a profit of $0.48 per share, up significantly from $0.10 per share in the year-ago quarter. The company has surpassed Wall Street's earnings estimates in the last four quarters. In Q3, PFE exceeded the consensus EPS estimate by 65.6%.

For fiscal 2024, analysts expect PFE to report an EPS of $2.94, up 59.8% from $1.84 in fiscal 2023.

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Shares of PFE have dipped 7.5% over the past 52 weeks, lagging behind both the S&P 500 Index's ($SPX) 22.1 surge and the Health Care Select Sector SPDR Fund's (XLV) marginal drop over the same period. 

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Despite strong Q3 results, Pfizer stock fell 1.4% on Oct. 29 because of mixed market perceptions. The company posted better-than-expected Q3 revenue of $17.7 billion and adjusted earnings of $1.06 per share, with impressive growth fueled by COVID products Paxlovid and Comirnaty. However, CEO Albert Bourla's defense of acquisitions criticized by activist investor Starboard Value raised concerns about potentially wasteful spending. While Pfizer raised its 2024 guidance to $61 billion - $64 billion in revenue and $2.75 per share - $2.95 per share in earnings, doubts about growth sustainability outside Covid products contributed to investor unease, dragging the stock down.

Analysts' consensus view on Pfizer’s stock is cautiously optimistic, with a "Moderate Buy" rating overall. Among 24 analysts covering the stock, 11 recommend "Strong Buy," 12 suggest "Hold," and one indicates “Strong Sell.” This configuration is slightly more bullish than three months ago, with 10 analysts suggesting a "Strong Buy." 

As of writing, PFE is trading below the average analyst price target of $31.43.