Pfizer (PFE) Stock Sinks As Market Gains: What You Should Know

In the latest trading session, Pfizer PFE closed at $40.55, marking a -1.53% move from the previous day. This change lagged the S&P 500's 0.09% gain on the day. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 2.51%.

Coming into today, shares of the drugmaker had gained 0.91% in the past month. At that same time, the Medical sector gained 6.47%, while the S&P 500 gained 6.17%.

Wall Street will be looking for positivity from Pfizer as it approaches its next earnings report date. This is expected to be on May 2, 2023. The company is expected to report EPS of $0.97, down 40.12% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $17.05 billion, down 33.54% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $3.67 per share and revenue of $68.43 billion, which would represent changes of -44.22% and -31.8%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Pfizer. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.08% lower. Pfizer currently has a Zacks Rank of #3 (Hold).

Digging into valuation, Pfizer currently has a Forward P/E ratio of 11.21. This valuation marks a discount compared to its industry's average Forward P/E of 14.87.

Also, we should mention that PFE has a PEG ratio of 1.25. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. PFE's industry had an average PEG ratio of 1.84 as of yesterday's close.

The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 41, which puts it in the top 17% of all 250+ industries.

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.

To follow PFE in the coming trading sessions, be sure to utilize Zacks.com.

Free Report: Must-See Hydrogen Stocks

Hydrogen fuel cells are already used to provide efficient, ultra-clean energy to buses, ships and even hospitals. This technology is on the verge of a massive breakthrough, one that could make hydrogen a major source of America's power. It could even totally revolutionize the EV industry.

Zacks has released a special report revealing the 4 stocks experts believe will deliver the biggest gains.

Zacks Investment Research

Photo by Maxim Hopman on Unsplah