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

Philip Morris International (NYSE:PM) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 6.190-6.310 for the period, compared to the consensus earnings per share estimate of 6.370. The company issued revenue guidance of -. Philip Morris International also updated its FY24 guidance to $6.19-6.31 EPS.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PM. Stifel Nicolaus lifted their price objective on Philip Morris International from $108.00 to $115.00 and gave the stock a buy rating in a research note on Wednesday. Societe Generale upgraded shares of Philip Morris International from a sell rating to a hold rating and set a $87.50 price target for the company in a report on Tuesday, February 13th. UBS Group lowered Philip Morris International from a buy rating to a sell rating and dropped their price target for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. Finally, Argus restated a hold rating on shares of Philip Morris International in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $105.50.

Philip Morris International Trading Down 0.2 %

Shares of NYSE:PM traded down $0.19 during trading on Friday, reaching $95.90. The company had a trading volume of 331,153 shares, compared to its average volume of 5,708,259. The stock has a market capitalization of $149.08 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 2.09 and a beta of 0.61. Philip Morris International has a 12 month low of $87.23 and a 12 month high of $100.79. The company has a fifty day moving average of $91.79 and a two-hundred day moving average of $92.18.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. Philip Morris International had a net margin of 9.83% and a negative return on equity of 113.26%. The business had revenue of $8.79 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period last year, the business earned $1.38 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts predict that Philip Morris International will post 6.29 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is currently 101.56%.

Insider Activity

In related news, insider Werner Barth sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $91.46, for a total transaction of $457,300.00. Following the sale, the insider now owns 102,918 shares of the company’s stock, valued at $9,412,880.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Massimo Andolina sold 8,250 shares of Philip Morris International stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $93.63, for a total transaction of $772,447.50. Following the sale, the insider now owns 94,629 shares in the company, valued at $8,860,113.27. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Werner Barth sold 5,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $91.46, for a total transaction of $457,300.00. Following the transaction, the insider now directly owns 102,918 shares of the company’s stock, valued at approximately $9,412,880.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,250 shares of company stock valued at $1,411,128. Corporate insiders own 0.13% of the company’s stock.

About Philip Morris International

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.