Pfizer (PFE) closed at $27.57 in the latest trading session, marking a +1.06% move from the prior day. This move outpaced the S&P 500's daily loss of 1.74%. At the same time, the Dow lost 1.01%, and the tech-heavy Nasdaq lost 2.38%.
Shares of the drugmaker witnessed a gain of 0.7% over the previous month, beating the performance of the Medical sector with its loss of 7.17%, and the S&P 500's loss of 4.99%.
Investors will be eagerly watching for the performance of Pfizer in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.77, showcasing a 16.3% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $13.83 billion, indicating a 0.86% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.97 per share and a revenue of $61.01 billion, indicating changes of -7.76% and -2.51%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Pfizer. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.12% rise in the Zacks Consensus EPS estimate. Pfizer currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Pfizer is currently exchanging hands at a Forward P/E ratio of 9.18. Its industry sports an average Forward P/E of 14.26, so one might conclude that Pfizer is trading at a discount comparatively.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 157, this industry ranks in the bottom 36% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
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