Philip Morris International (NYSE:PM) Issues FY 2024 Earnings Guidance

Philip Morris International (NYSE:PMGet Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 6.330-6.450 for the period, compared to the consensus estimate of 6.330. The company issued revenue guidance of -.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded up $0.36 on Friday, reaching $117.82. 7,405,946 shares of the company were exchanged, compared to its average volume of 5,061,314. The firm has a market cap of $183.16 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 2.35 and a beta of 0.58. Philip Morris International has a 1-year low of $87.23 and a 1-year high of $119.06. The company’s 50-day moving average is $104.84 and its two-hundred day moving average is $97.29.

Philip Morris International (NYSE:PMGet Free Report) last issued its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the company earned $1.60 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, sell-side analysts forecast that Philip Morris International will post 6.41 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.41%. The ex-dividend date was Friday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

Wall Street Analysts Forecast Growth

PM has been the subject of several analyst reports. StockNews.com upgraded Philip Morris International from a hold rating to a buy rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an overweight rating in a research report on Thursday, July 25th. Bank of America raised their price target on Philip Morris International from $110.00 to $118.00 and gave the company a buy rating in a report on Wednesday, July 24th. Stifel Nicolaus upped their price objective on shares of Philip Morris International from $115.00 to $120.00 and gave the stock a buy rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Philip Morris International from $116.00 to $118.00 and gave the company a buy rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $107.80.

View Our Latest Report on Philip Morris International

Insider Buying and Selling at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by corporate insiders.

About Philip Morris International

(Get Free Report)

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.

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Earnings History and Estimates for Philip Morris International (NYSE:PM)

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