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In the latest market close, Pfizer (PFE) reached $29.10, with a +0.62% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.28%. At the same time, the Dow added 0.53%, and the tech-heavy Nasdaq gained 0.4%.

Heading into today, shares of the drugmaker had gained 5.05% over the past month, outpacing the Medical sector's gain of 0.79% and the S&P 500's gain of 3.78% in that time.

Market participants will be closely following the financial results of Pfizer in its upcoming release. The company plans to announce its earnings on July 30, 2024. The company is forecasted to report an EPS of $0.45, showcasing a 32.84% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.21 billion, up 3.72% from the year-ago period.

For the full year, the Zacks Consensus Estimates are projecting earnings of $2.39 per share and revenue of $60.72 billion, which would represent changes of +29.89% and +3.8%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Pfizer. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.55% higher. Pfizer is currently a Zacks Rank #2 (Buy).

In the context of valuation, Pfizer is at present trading with a Forward P/E ratio of 12.11. For comparison, its industry has an average Forward P/E of 15.05, which means Pfizer is trading at a discount to the group.

It's also important to note that PFE currently trades at a PEG ratio of 1.13. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 1.9.

The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 167, positioning it in the bottom 34% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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