Pharmaceutical giant Pfizer Inc. (
) said Tuesday that its fourth quarter profit came in ahead of
expectations, but issued a 2011 forecast that could fall below
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
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
The Bottom Line
Shares of Pfizer (
) 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. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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