Philip Morris International (NYSE:PM) Updates FY21 Earnings Guidance

Philip Morris International (NYSE:PM) issued an update on its FY21 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.76-5.86 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.09. Philip Morris International also updated its FY 2021 guidance to $5.970-$6.070 EPS.

Several research firms have recently issued reports on PM. Piper Sandler boosted their price target on shares of Philip Morris International from $111.00 to $114.00 and gave the company an overweight rating in a research report on Friday, June 11th. Morgan Stanley reissued a buy rating and issued a $110.00 price target on shares of Philip Morris International in a report on Friday, July 2nd. TheStreet raised shares of Philip Morris International from a c+ rating to a b rating in a report on Tuesday. Zacks Investment Research lowered shares of Philip Morris International from a buy rating to a hold rating and set a $99.00 price target on the stock. in a report on Tuesday, April 27th. Finally, JPMorgan Chase & Co. raised shares of Philip Morris International from a neutral rating to an overweight rating and upped their price objective for the company from $81.00 to $105.00 in a research note on Friday, April 9th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $100.92.

Shares of PM traded down $0.27 on Thursday, reaching $96.27. The company’s stock had a trading volume of 17,600 shares, compared to its average volume of 4,241,347. Philip Morris International has a 12-month low of $68.93 and a 12-month high of $100.95. The stock has a market capitalization of $150.04 billion, a PE ratio of 16.97, a P/E/G ratio of 1.82 and a beta of 0.83. The company’s 50 day moving average price is $98.29.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Monday, July 19th. The company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.02. Philip Morris International had a net margin of 11.13% and a negative return on equity of 91.56%. The business had revenue of $7.84 billion for the quarter, compared to the consensus estimate of $7.71 billion. During the same quarter in the previous year, the firm earned $1.29 earnings per share. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. On average, equities analysts forecast that Philip Morris International will post 6.02 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 12th. Stockholders of record on Friday, June 25th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 4.99%. The ex-dividend date was Thursday, June 24th. Philip Morris International’s payout ratio is currently 92.84%.

Philip Morris International announced that its Board of Directors has authorized a stock repurchase program on Friday, June 11th that allows the company to repurchase $7.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

In other Philip Morris International news, CEO Martin G. King sold 21,066 shares of Philip Morris International stock in a transaction on Tuesday, April 27th. The shares were sold at an average price of $94.51, for a total transaction of $1,990,947.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mario Masseroli sold 1,734 shares of Philip Morris International stock in a transaction on Monday, May 10th. The stock was sold at an average price of $98.31, for a total transaction of $170,469.54. The disclosure for this sale can be found here. Insiders sold 32,800 shares of company stock worth $3,139,017 in the last 90 days. 0.21% of the stock is currently owned by company insiders.

Philip Morris International Company Profile

Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.

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

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