Philip Morris International (PM) Scheduled to Post Quarterly Earnings on Tuesday

by · The Markets Daily

Philip Morris International (NYSE:PM – Get Free Report) is set to announce its earnings results before the market opens on Tuesday, October 22nd. Analysts expect the company to announce earnings of $1.83 per share for the quarter. Philip Morris International has set its FY24 guidance at $6.33-6.45 EPS and its Q3 2024 guidance at 1.770-1.820 EPS.Investors that wish to register for the company’s conference call can do so using this link.

Philip Morris International (NYSE:PM – Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same period in the prior year, the company earned $1.60 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. On average, analysts expect Philip Morris International to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Philip Morris International Trading Up 0.1 %

Shares of Philip Morris International stock opened at $120.21 on Monday. The stock has a 50 day moving average of $121.35 and a 200 day moving average of $108.62. Philip Morris International has a 12 month low of $87.23 and a 12 month high of $128.22. The firm has a market cap of $186.87 billion, a PE ratio of 23.48, a PEG ratio of 2.35 and a beta of 0.55.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.49%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 105.47%.

Insiders Place Their Bets

In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PM has been the subject of several analyst reports. Barclays raised their price objective on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft increased their price target on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. UBS Group reduced their price target on Philip Morris International from $105.00 to $103.00 and set a “sell” rating on the stock in a report on Tuesday, October 15th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Bank of America increased their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.95.

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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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