Pfizer Stock Slips Despite Steady Broader Market; Earnings Decline Expected Amid Industry Struggles
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Pfizer (PFE) stock fell 0.61% despite the broader market only falling 0.15%. The Dow fell 0.42% while the Nasdaq rose 0.09%.
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Pfizer is scheduled to report earnings on January 30, 2024. Forecasts expect an EPS of -$0.18, down 115.79% year-over-year, on $14.26 billion in revenue, a 41.28% decline.
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Pfizer shares have fallen 28.08% over the past month amid negative estimate revisions, signaling poor near-term outlook. The stock has a Zacks Rank of Strong Sell.
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Pfizer has a forward P/E of 13.29, showing a valuation discount compared to its industry average of 14.45. Its PEG ratio of 1.9 matches the industry.
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Pfizer's Large Cap Pharmaceuticals industry ranks in the bottom 39% of Zacks sectors, underperforming the broader market recently.