Health and Healthcare
Pfizer Sneaks By Earnings Estimates (PFE, MRK)
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Pfizer, Inc. (NYSE: PFE) looks good on the surface on its earnings report for the fourth quarter, but the company’s guidance may be getting in the way a bit. The drug giant turned in results of $0.50 EPS on sales of about $16.7 billion. Thomson Reuters had estimates of $0.47 EPS. The guidance and results are meant to reflect unfavorable changes in foreign exchange due to a stronger U.S. dollar. Today’s news will set up the trend for Merck & Co, Inc. (NYSE: MRK) earnings later this week.
As far as 2012 is concerned, Pfizer is targeting $2.20 to $2.30 earnings per share, which is slightly under prior targets and is currently compared to a Thomson Reuters consensus of $2.28 EPS. The new 2012 guidance for sales is $60.5 billion to $62.5 billion versus a prior range of $62.7 billion to $64.7 billion. The Thomson Reuters consensus is $2.30 EPS for this coming year.
The company noted:
Pfizer has been trading up and down in the early hours of the pre-market and shares are up 0.3% at $21.65 on last look against a 52-week range of $16.63 to $22.17.
JON C. OGG
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