Philip Morris International Inc. (NYSE:PM) declared a quarterly dividend on Friday, June 8th, RTT News reports. Stockholders of record on Friday, June 22nd will be given a dividend of 1.14 per share on Wednesday, July 11th. This represents a $4.56 annualized dividend and a dividend yield of 5.64%. The ex-dividend date is Thursday, June 21st. This is an increase from Philip Morris International’s previous quarterly dividend of $1.07.
Philip Morris International has raised its dividend payment by an average of 3.1% annually over the last three years and has raised its dividend annually for the last 10 consecutive years. Philip Morris International has a payout ratio of 90.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Philip Morris International to earn $5.67 per share next year, which means the company should continue to be able to cover its $4.28 annual dividend with an expected future payout ratio of 75.5%.
Philip Morris International stock opened at $80.84 on Wednesday. Philip Morris International has a 1 year low of $76.21 and a 1 year high of $123.55. The company has a debt-to-equity ratio of -2.82, a current ratio of 1.16 and a quick ratio of 0.68. The company has a market capitalization of $124.40 billion, a PE ratio of 16.40, a PEG ratio of 1.60 and a beta of 0.88.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, April 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.12. Philip Morris International had a negative return on equity of 72.40% and a net margin of 7.50%. The company had revenue of $6.90 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The firm’s revenue was up 13.7% compared to the same quarter last year. sell-side analysts predict that Philip Morris International will post 5.16 EPS for the current fiscal year.
A number of analysts have weighed in on the stock. ValuEngine downgraded shares of Philip Morris International from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 22nd. Zacks Investment Research downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, May 14th. Deutsche Bank set a $100.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a research report on Tuesday, April 24th. TheStreet downgraded shares of Philip Morris International from a “b-” rating to a “c+” rating in a research report on Tuesday, March 20th. Finally, Cowen reissued a “buy” rating and set a $105.00 target price on shares of Philip Morris International in a research report on Friday, April 20th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $116.86.
In other news, Director Jennifer Li bought 40,000 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The shares were bought at an average cost of $81.30 per share, for a total transaction of $3,252,000.00. Following the acquisition, the director now directly owns 47,323 shares in the company, valued at $3,847,359.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miroslaw Zielinski bought 6,000 shares of the business’s stock in a transaction that occurred on Friday, April 27th. The stock was purchased at an average price of $81.56 per share, for a total transaction of $489,360.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 49,000 shares of company stock worth $3,989,640. 0.22% of the stock is owned by company insiders.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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