Philip Morris International Inc. (NYSE:PM) Expected to Announce Quarterly Sales of $6.47 Billion

Equities analysts expect that Philip Morris International Inc. (NYSE:PM) will post $6.47 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for Philip Morris International’s earnings. The highest sales estimate is $6.61 billion and the lowest is $6.23 billion. Philip Morris International reported sales of $7.70 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 16%. The firm is expected to issue its next earnings report on Thursday, July 16th.

According to Zacks, analysts expect that Philip Morris International will report full year sales of $28.78 billion for the current year, with estimates ranging from $28.14 billion to $30.75 billion. For the next fiscal year, analysts expect that the company will post sales of $30.48 billion, with estimates ranging from $29.52 billion to $32.40 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Philip Morris International.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, April 21st. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.08. Philip Morris International had a net margin of 9.75% and a negative return on equity of 84.38%. The business had revenue of $7.15 billion for the quarter, compared to analyst estimates of $6.87 billion. During the same quarter last year, the firm earned $1.09 EPS. Philip Morris International’s quarterly revenue was up 6.0% compared to the same quarter last year.

Several research firms recently weighed in on PM. Goldman Sachs Group began coverage on shares of Philip Morris International in a research report on Wednesday, April 1st. They set a “buy” rating and a $80.00 price objective for the company. Cfra increased their target price on shares of Philip Morris International from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Cowen upgraded Philip Morris International from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $90.00 to $102.00 in a report on Thursday, February 13th. ValuEngine upgraded Philip Morris International from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Morgan Stanley lowered their price target on Philip Morris International from $99.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $91.14.

PM traded down $0.05 during trading on Wednesday, reaching $70.45. 2,546,855 shares of the stock were exchanged, compared to its average volume of 5,332,155. The stock’s 50 day moving average price is $73.12 and its two-hundred day moving average price is $80.74. Philip Morris International has a twelve month low of $56.01 and a twelve month high of $90.17. The stock has a market cap of $109.78 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 2.15 and a beta of 0.79.

In related news, insider Marc S. Firestone sold 22,000 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $86.27, for a total value of $1,897,940.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Perennial Advisors LLC bought a new stake in Philip Morris International in the first quarter worth $29,000. Solstein Capital LLC bought a new stake in Philip Morris International in the fourth quarter worth $28,000. Howard Wealth Management LLC bought a new position in shares of Philip Morris International during the fourth quarter valued at $43,000. CBIZ Investment Advisory Services LLC bought a new position in shares of Philip Morris International during the fourth quarter valued at $48,000. Finally, Key Financial Inc bought a new position in shares of Philip Morris International during the first quarter valued at $41,000. 74.02% of the stock is currently owned by institutional investors and hedge funds.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and 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 Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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