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

Philip Morris International (NYSE:PMGet Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 6.320-6.440 for the period, compared to the consensus estimate of 6.600. The company issued revenue guidance of -. Philip Morris International also updated its FY24 guidance to $6.43 to $6.55 EPS.

Philip Morris International Stock Performance

PM opened at $89.12 on Friday. The firm has a market cap of $138.35 billion, a P/E ratio of 17.75, a PEG ratio of 2.46 and a beta of 0.63. The firm has a 50-day moving average of $93.14 and a 200 day moving average of $93.49. Philip Morris International has a fifty-two week low of $87.23 and a fifty-two week high of $103.79.

Philip Morris International (NYSE:PMGet Free Report) last issued its earnings results on Thursday, February 8th. The company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.08). The business had revenue of $9.05 billion for the quarter, compared to the consensus estimate of $8.99 billion. Philip Morris International had a negative return on equity of 116.29% and a net margin of 10.80%. Philip Morris International’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.39 EPS. Equities research analysts predict that Philip Morris International will post 6.39 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date was Wednesday, December 20th. Philip Morris International’s payout ratio is 103.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $110.00 to $115.00 and gave the company an overweight rating in a research note on Wednesday, November 29th. Redburn Atlantic assumed coverage on shares of Philip Morris International in a research note on Thursday, November 16th. They issued a neutral rating and a $95.00 target price on the stock. Finally, UBS Group downgraded shares of Philip Morris International from a buy rating to a sell rating and lowered their target price for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Philip Morris International has an average rating of Moderate Buy and a consensus price target of $107.39.

Get Our Latest Report on Philip Morris International

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Wilde Frederic De sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $94.25, for a total transaction of $942,500.00. Following the transaction, the insider now directly owns 198,447 shares in the company, valued at $18,703,629.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PM. PCA Investment Advisory Services Inc. bought a new position in shares of Philip Morris International in the second quarter worth approximately $27,000. Coppell Advisory Solutions LLC bought a new stake in Philip Morris International in the second quarter valued at $43,000. Studio Investment Management LLC boosted its holdings in Philip Morris International by 33.8% in the fourth quarter. Studio Investment Management LLC now owns 428 shares of the company’s stock valued at $43,000 after acquiring an additional 108 shares in the last quarter. True Wealth Design LLC bought a new stake in Philip Morris International in the fourth quarter valued at $44,000. Finally, Covestor Ltd boosted its holdings in Philip Morris International by 54.9% in the first quarter. Covestor Ltd now owns 525 shares of the company’s stock valued at $49,000 after acquiring an additional 186 shares in the last quarter. Institutional investors own 79.70% of the company’s stock.

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.

Further Reading

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

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