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

Philip Morris International (NYSE:PMGet Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $6.19-6.31 for the period, compared to the consensus earnings per share estimate of $6.35. Philip Morris International also updated its FY 2024 guidance to 6.190-6.310 EPS.

Analyst Ratings Changes

A number of analysts recently commented on the company. Argus reaffirmed a hold rating on shares of Philip Morris International in a research report on Tuesday, March 5th. Societe Generale raised Philip Morris International from a sell rating to a hold rating and set a $87.50 target price for the company in a research report on Tuesday, February 13th. Finally, UBS Group lowered Philip Morris International from a buy rating to a sell rating and decreased their target price for the company from $105.00 to $86.50 in a research report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Philip Morris International has an average rating of Hold and an average price target of $105.40.

Read Our Latest Research Report on Philip Morris International

Philip Morris International Stock Performance

Shares of PM opened at $95.93 on Tuesday. The firm has a market capitalization of $149.13 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.96 and a beta of 0.61. The stock has a 50 day moving average price of $91.29 and a two-hundred day moving average price of $92.06. Philip Morris International has a 52 week low of $87.23 and a 52 week high of $100.79.

Philip Morris International (NYSE:PMGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported $1.36 EPS 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 8.53%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 earnings per share. On average, equities analysts forecast that Philip Morris International will post 6.38 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were issued a dividend of $1.30 per share. The ex-dividend date was Wednesday, March 20th. This represents a $5.20 dividend on an annualized basis and a yield of 5.42%. Philip Morris International’s dividend payout ratio (DPR) is currently 103.59%.

Insider Buying and Selling

In related news, insider Massimo Andolina sold 8,250 shares of Philip Morris International stock in a transaction on Friday, March 15th. The stock was sold at an average price of $93.63, for a total transaction of $772,447.50. Following the sale, the insider now directly owns 94,629 shares in the company, valued at $8,860,113.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $93.63, for a total value of $772,447.50. Following the completion of the sale, the insider now directly owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Werner Barth sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $91.46, for a total value of $457,300.00. Following the completion of the sale, 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. Over the last three months, insiders have sold 15,250 shares of company stock worth $1,411,128. 0.14% of the stock is owned by company 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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