Philip Morris International (NYSE:PM – Get Free Report) released its earnings results on Tuesday. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.57 by $0.02, Briefing.com reports. The firm had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a net margin of 8.58% and a negative return on equity of 111.24%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 earnings per share. Philip Morris International updated its FY24 guidance to $6.33-6.45 EPS and its Q3 2024 guidance to 1.770-1.820 EPS.
Philip Morris International Stock Performance
Shares of NYSE:PM traded up $1.38 during mid-day trading on Thursday, hitting $112.82. 3,751,951 shares of the company traded hands, compared to its average volume of 5,357,596. The firm has a market cap of $175.39 billion, a P/E ratio of 22.08, a PEG ratio of 2.23 and a beta of 0.58. Philip Morris International has a 52-week low of $87.23 and a 52-week high of $113.68. The firm’s 50 day simple moving average is $102.74 and its 200 day simple moving average is $96.28.
Philip Morris International Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, June 21st. This represents a $5.20 annualized dividend and a dividend yield of 4.61%. Philip Morris International’s dividend payout ratio is presently 101.56%.
Wall Street Analysts Forecast Growth
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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.
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