Posted 12/6/2023, 10:45:17 PM
Pfizer Stock Drops Despite Market Resilience As Earnings Plunge Expected
- Pfizer (PFE) stock declined 1.03% despite smaller losses in broader markets
- Pfizer expected to report sharp 114% EPS decline and 40% revenue drop in next earnings
- Full-year earnings and revenue also forecast to decrease 77% and 41% respectively
- Pfizer trades at premium to industry average valuation based on forward P/E and PEG ratios
- Pfizer part of Large Cap Pharmaceuticals industry, which ranks in top 20% of over 250 Zacks-covered industries