What can investors learn from PFE's past earnings surprises?

**Pfizer (PFE) has a history of delivering earnings surprises**, which is a positive indicator for investors. Here's what they can learn from its past performance:

1. **Consistent Outperformance**: Pfizer has consistently exceeded earnings expectations, as evidenced by a 31.25% earnings surprise in its latest report period. This demonstrates the company's strong operational efficiency and ability to generate profits above expectations.
2. **Analyst Optimism**: Analysts remain bullish on Pfizer, with a positive forecast for future earnings. This optimism is supported by an Earnings ESP (Expected Surprise) of +21.50%, suggesting potential for further earnings beats in the future.
3. **Potential for Continued Surprises**: The company's track record of earnings surprises suggests that it may continue to exceed expectations in the future. This is a favorable sign for investors, as it indicates that Pfizer is likely to deliver strong financial performance going forward.
4. **Market Performance and Investor Expectations**: Despite holding a Zacks Rank #3 (Hold), Pfizer's stock has underperformed the Medical sector and the S&P 500 in recent months. However, the upcoming earnings report is expected to be closely monitored, with analysts projecting a potential 17.07% drop in EPS compared to the same quarter of the previous year. This contrast between expected performance and actual results highlights the importance of monitoring earnings surprises in understanding stock movements.
5. **Estimate Revisions and Analyst Ratings**: Recent revisions to analyst estimates reflect the evolving nature of short-term business trends. Positive estimate revisions indicate analyst optimism about the company's business and profitability, which can be a good sign for investors.

In conclusion, investors can learn from Pfizer's past earnings surprises that the company has a strong track record of exceeding expectations, leading to potential stock price appreciation. However, they should also be aware of the potential for unexpected declines in earnings and the impact on stock performance.