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

Philip Morris International (NYSE:PM) issued an update on its FY 2024 earnings guidance on Thursday morning. 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 NYSE PM traded up $0.36 during trading hours on Friday, reaching $117.82. 7,405,946 shares of the stock were exchanged, compared to its average volume of 5,061,314. The firm has a market capitalization 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 52 week low of $87.23 and a 52 week high of $119.06. The stock’s fifty day simple moving average is $104.84 and its 200 day simple moving average is $97.29.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter last year, the company earned $1.60 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. Research analysts predict that Philip Morris International will post 6.41 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

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

Analyst Ratings Changes

PM has been the topic of a number of recent research reports. Bank of America raised their price objective on Philip Morris International from $110.00 to $118.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. Stifel Nicolaus raised their price objective on Philip Morris International from $115.00 to $120.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on Philip Morris International from $110.00 to $125.00 and gave the stock an overweight rating in a research note on Thursday, July 25th. StockNews.com upgraded Philip Morris International from a hold rating to a buy rating in a research note on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Philip Morris International currently has an average rating of Moderate Buy and an average target price of $107.80.

Insider Activity

In related news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Company Profile

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.