Philip Morris International (NYSE:PM) Issues FY24 Earnings Guidance

Philip Morris International (NYSE:PM) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $6.19-6.31 for the period, compared to the consensus EPS estimate of $6.35. Philip Morris International also updated its FY 2024 guidance to 6.190-6.310 EPS.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PM. Stifel Nicolaus upped their target price on Philip Morris International from $108.00 to $115.00 and gave the company a buy rating in a research report on Wednesday. Societe Generale upgraded Philip Morris International from a sell rating to a hold rating and set a $87.50 target price on the stock in a research report on Tuesday, February 13th. Argus restated a hold rating on shares of Philip Morris International in a research report on Tuesday, March 5th. Finally, UBS Group lowered Philip Morris International from a buy rating to a sell rating and cut their target price for the company from $105.00 to $86.50 in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $105.50.

Philip Morris International Trading Down 3.0 %

PM stock traded down $2.93 during trading on Thursday, reaching $96.09. 7,416,363 shares of the stock were exchanged, compared to its average volume of 5,776,468. The firm’s 50 day moving average is $91.79 and its 200 day moving average is $92.18. Philip Morris International has a twelve month low of $87.23 and a twelve month high of $100.79. The firm has a market cap of $149.38 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 2.05 and a beta of 0.61.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09. The firm had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $8.44 billion. Philip Morris International had a negative return on equity of 113.26% and a net margin of 9.83%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.38 earnings per share. As a group, analysts predict that Philip Morris International will post 6.33 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.41%. The ex-dividend date was Wednesday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

Insider Transactions at Philip Morris International

In other news, VP Reginaldo Dobrowolski sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total value of $181,380.00. Following the completion of the sale, the vice president now directly owns 9,726 shares of the company’s stock, valued at $882,050.94. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Reginaldo Dobrowolski sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total value of $181,380.00. Following the completion of the transaction, the vice president now directly owns 9,726 shares of the company’s stock, valued at $882,050.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Werner Barth sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $91.46, for a total value of $457,300.00. Following the completion of the transaction, the insider now directly owns 102,918 shares of the company’s stock, valued at $9,412,880.28. The disclosure for this sale can be found here. Insiders sold a total of 15,250 shares of company stock valued at $1,411,128 over the last ninety days. 0.13% of the stock is currently owned by insiders.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.