Wall Street analysts expect Philip Morris International Inc. (NYSE:PM) to report earnings of $1.55 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Philip Morris International’s earnings. The highest EPS estimate is $1.63 and the lowest is $1.52. Philip Morris International posted earnings of $1.29 per share in the same quarter last year, which would suggest a positive year over year growth rate of 20.2%. The firm is expected to announce its next quarterly earnings report on Tuesday, July 20th.
On average, analysts expect that Philip Morris International will report full-year earnings of $6.06 per share for the current year, with EPS estimates ranging from $5.93 to $6.17. For the next fiscal year, analysts forecast that the company will report earnings of $6.65 per share, with EPS estimates ranging from $6.40 to $6.98. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Philip Morris International.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Monday, April 19th. The company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.17. Philip Morris International had a net margin of 10.07% and a negative return on equity of 78.02%. The firm had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.33 billion. During the same period in the prior year, the company earned $1.21 EPS. The firm’s revenue was up 6.0% on a year-over-year basis.
A number of brokerages recently weighed in on PM. Barclays upped their price target on shares of Philip Morris International from $103.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, April 22nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on shares of Philip Morris International from $100.00 to $105.00 in a research report on Friday, January 8th. Zacks Investment Research cut shares of Philip Morris International from a “buy” rating to a “hold” rating and set a $99.00 price objective for the company. in a research report on Tuesday, April 27th. Stifel Nicolaus upped their price objective on shares of Philip Morris International from $90.00 to $100.00 in a research report on Friday, February 5th. Finally, Morgan Stanley upped their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 27th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $100.23.
In related news, VP Marian Salzman sold 2,000 shares of the stock in a transaction dated Friday, February 5th. The shares were sold at an average price of $84.39, for a total transaction of $168,780.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stacey Kennedy sold 10,570 shares of the stock in a transaction dated Wednesday, April 21st. The stock was sold at an average price of $94.28, for a total transaction of $996,539.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,636 shares of company stock worth $3,156,267. Company insiders own 0.22% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PM. Wealth Alliance raised its stake in Philip Morris International by 28.1% during the third quarter. Wealth Alliance now owns 21,004 shares of the company’s stock worth $1,575,000 after acquiring an additional 4,606 shares during the period. Schonfeld Strategic Advisors LLC grew its position in Philip Morris International by 59.8% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 25,234 shares of the company’s stock worth $1,892,000 after purchasing an additional 9,447 shares during the last quarter. Westover Capital Advisors LLC bought a new position in Philip Morris International in the 3rd quarter worth about $225,000. IHT Wealth Management LLC grew its position in Philip Morris International by 12.9% in the 3rd quarter. IHT Wealth Management LLC now owns 8,697 shares of the company’s stock worth $652,000 after purchasing an additional 997 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its position in Philip Morris International by 1.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 10,888 shares of the company’s stock worth $816,000 after purchasing an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.
Philip Morris International stock traded down $0.94 during trading on Tuesday, reaching $94.91. 5,335,287 shares of the company’s stock were exchanged, compared to its average volume of 4,809,804. The company’s 50-day moving average is $91.21 and its two-hundred day moving average is $83.37. Philip Morris International has a 52-week low of $66.85 and a 52-week high of $96.54. The firm has a market cap of $147.92 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 2.27 and a beta of 0.77.
The business also recently announced a quarterly dividend, which was paid on Friday, April 9th. Stockholders of record on Monday, March 22nd were paid a $1.20 dividend. The ex-dividend date was Friday, March 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 5.06%. Philip Morris International’s dividend payout ratio (DPR) is presently 92.49%.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, smoke-free products, and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks, and Parliament HeatSticks brands, as well as under the Fiit and Miix licensed brands.
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