Pfizer (PFE) closed at $36.02 in the latest trading session, marking a +0.95% move from the prior day. This move outpaced the S&P 500's daily gain of 0.67%. Meanwhile, the Dow gained 0.93%, and the Nasdaq, a tech-heavy index, added 9.29%.
Coming into today, shares of the drugmaker had lost 10.58% in the past month. In that same time, the Medical sector lost 1.19%, while the S&P 500 gained 2.65%.
Pfizer will be looking to display strength as it nears its next earnings release, which is expected to be August 1, 2023. In that report, analysts expect Pfizer to post earnings of $0.61 per share. This would mark a year-over-year decline of 70.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.01 billion, down 49.51% from the year-ago period.
PFE's full-year Zacks Consensus Estimates are calling for earnings of $3.35 per share and revenue of $68.1 billion. These results would represent year-over-year changes of -49.09% and -32.13%, respectively.
Investors should also note any recent changes to analyst estimates for Pfizer. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, the Zacks Consensus EPS estimate remained stagnant. Pfizer is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Pfizer has a Forward P/E ratio of 10.66 right now. This valuation marks a discount compared to its industry's average Forward P/E of 14.36.
Meanwhile, PFE's PEG ratio is currently 1.18. 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 1.6 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 183, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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