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

Philip Morris International (NYSE:PM) 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:PM) 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.

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

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.