Pfizer Inc (NYSE:PFE) will report earnings before the bell on August 1, but analysts aren’t overly optimistic about the pharma company’s second quarter earnings.
Pfizer is expected to report earnings of $0.57 per share, compared to $1.73 per share a year earlier. Revenue is projected to be $13.33 billion, which would be a significant decline from $27.7 billion last year..
Adding insult to injury, the consensus EPS estimate for Pfizer has been revised down 0.24% in the last 30 days, according to analysts at Zacks.
Shares of Pfizer have fallen 2.4% in the past month, compared to a gain of 1.7% for the medical sector as a whole and nearly 4% for the S&P 500.
However, there is room for a rebound if the company’s report outperforms its admittedly low expectations.
Pfizer is one of two big names in pharmaceuticals reporting August 1, along with Merck and Co.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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