Pfizer’s Q4 Profit Beats View as Revenue Rises; 2011 Forecast Misses (PFE)

By Staff,

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Pharmaceutical giant Pfizer Inc. ( PFE ) said Tuesday that its fourth quarter profit came in ahead of expectations, but issued a 2011 forecast that could fall below analysts' view.

The New York-based company reported fourth quarter net income of $2.89 billion, or 36 cents per share, compared with $767 million, or 10 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 47 cents per share.

Revenue rose 7% from last year to $17.6 billion.

On average, Wall Street analysts expected a slightly smaller adjusted profit of 46 cents per share, on lower revenue of $16.99 billion.

Looking ahead, the company forecast 2011 profit to range from $2.16 to $2.26 per share, which would miss analysts' expectations of $2.30 per share for the year.

Pfizer shares rose 28 cents, or +1.5%, in premarket trading Tuesday.

The Bottom Line
Shares of Pfizer ( PFE ) have a 4.39% dividend yield, based on last night's closing stock price of $18.22. The stock has technical support in the $16-$17 price area. If the shares can firm up, we see overhead resistance around the $19-$20 price levels.

Pfizer Inc. ( PFE ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: PFE

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