Zacks Investment Ideas feature highlights: Pfizer, Philip Morris and Tenet Healthcare

For Immediate ReleaseChicago, IL – October 31, 2024 – Today, Zacks Investment Ideas feature highlights Pfizer PFE, Philip Morris PM and Tenet Healthcare THC.3 Stocks to Buy Following Robust Quarterly ResultsThe 2024 Q3 earnings season continues to chug along, with a decent chunk of S&P 500 companies already delivering their results.And throughout the period, several companies, including Pfizer, Philip Morris and Tenet Healthcare, have stolen the spotlight, with each raising guidance.Let's take a closer look at the reports.Pfizer Sees Bullish OutlookPfizer shares have largely been disappointing in 2024, up 3% and widely underperforming relative to the S&P 500. Still, the recent set of favorable results could perk shares up in the near term, with the company raising its current-year sales guidance by a solid $1.5 billion while also raising its adjusted EPS outlook.Strong demand for Paxlovid following a recent wave of COVID-19 helped drive the better-than-expected results, with successful cost-cutting measures also providing tailwinds. Impressively, the company is now on track to achieve at least $4 billion in cost savings by the end of its FY24. The successful cost-cutting plan is quite significant here for obvious reasons, namely margin expansion.Analysts have taken their earnings expectations higher across the board over recent months, undoubtedly a bullish sign.Philip Morris Reports Record ResultsPhilip Morris shares have been notably strong in 2024, up 45% and regularly seeing positive post-earnings reactions as of late. Impressively, the company delivered record net revenues and EPS, enjoying momentum across all regions and categories.The favorable results have helped push the stock into a favorable Zacks Rank #2 (Buy), with the revisions trend for its current fiscal year shifting heavily bullish beginning in May.The company's shipment volumes for its oral smoke-free products jumped nearly 25% year-over-year, primarily fueled by robust demand for ZYN nicotine pouches. Impressively, its nicotine pouch volumes jumped 41% in the US, whereas volumes outside of the US saw a 70% climb.And to top it off, the company raised its quarterly dividend payout by a sold 3.8%, bringing the annualized tally to $5.40 per share. Philip Morris has long been a favorite among income-focused investors, regularly increasing its payouts over its history.THC Shares Remain HotTenet Healthcare shares have been scorching-hot in 2024, up 115% and even outperforming many of the Mag 7 members. Favorable quarterly results have helped keep shares moving higher, popping following the latest print that delivered an adjusted EBITDA guidance upgrade.The revisions trend for its current fiscal year has been remarkably bullish, with the current $10.72 Zacks Consensus EPS estimate up nearly 75% over the last year and suggesting 50% growth year-over-year. The stock sports a favorable Zacks Rank #2 (Buy).The company's cash-generating abilities also saw a big boost, with free cash flow of $1.8 billion nearly 80% higher than the year-ago figure. Undoubtedly a positive, the company continued to aggressively buy back its shares throughout the period, scooping up $124 million worth.THC has regularly bought its shares back over recent years, helping establish a small floor.Bottom LineThe 2024 Q3 earnings season continues to roll along, with a nice variety of companies already delivering quarterly results.And throughout the period, we've seen many companies deliver robust results, a list that includes those stocks listed above. All three companies raised their outlooks following their results, providing a bullish outlook.Why Haven't You Looked at Zacks' Top Stocks?Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.Today you can access their live picks without cost or obligation.See Stocks Free >>Media ContactZacks Investment Research800-767-3771 ext. 9339support@zacks.comhttps://www.zacks.comPast performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pfizer Inc. (PFE): Free Stock Analysis Report Philip Morris International Inc. (PM): Free Stock Analysis Report Tenet Healthcare Corporation (THC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks