Pfizer Inc. (PFE) Shares Rose by 3.9% Over the Month
Overall growth in the large pharmaceutical sector, which includes the company, amounted to 11.7%
Over the month, Pfizer shares gained 3.9%, outperforming the S&P 500 index, which lost 5.6% over the same period.
Zacks attributes the near-term outlook for Pfizer primarily to revisions in analysts' earnings forecasts. According to the research company, such changes have the strongest impact on the fair value of shares and their short-term dynamics.
Pfizer's expected earnings per share for the current quarter are $0.69. The forecast suggests year-over-year growth in the indicator, though the consensus estimate has declined over the past month. The earnings forecast for the current fiscal year has also been revised, while the estimate for the next fiscal year has slightly increased.
Based on the aggregate changes in forecasts and other factors, the Zacks system has assigned Pfizer a Hold rating.
