Pfizer Reports Increased Profits; Beats Estimates (PFE)
Biopharmaceutical company, Pfizer Inc.(PFE) reported Q4 earnings that showed a significant increase in profit, beating analysts expectations on Tuesday.
The New York, NY based company reported fourth quarter earnings of $6.32 billion, or 86 cents per share, up 77% from $1.44 billion, or 19 cents per share last year. Excluding special items, the company reported earnings of 47 cents per share, beating analysts estimate of 44 cents per share.
Increased profits were partially a result of a $12 billion sale in November for its nutritional products business to Swiss food groups Nestle SA.
PFE saw a -7% decrease in revenue during the quarter, reporting sales of $15.1 billion. Analysts expected to see still-lower revenue of $14.37 billion. Revenue declined due to increased competition in some key markets.
For the full year 2013, the company estimates earnings in the range of $2.20 to $2.30 per share. Analysts are expecting EPS of $2.29.
Pfizer shares were mostly flat during premarket trading Tuesday. The stock has increased 25% in the past year.
The Bottom Line
Shares of Pfizer Inc.(PFE) have a 3.58% yield, based on Monday’s closing stock price of $26.84.
Pfizer Inc.(PFE) is a “Recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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