Philip Morris International (NYSE:PM) Posts Earnings Results, Beats Estimates By $0.06 EPS

Philip Morris International (NYSE:PM) announced its quarterly earnings data on Wednesday. The company reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.06, FiscalAI reports. The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $11.32 billion. Philip Morris International had a net margin of 11.06% and a negative return on equity of 163.41%.

Philip Morris International Stock Down 0.6%

Shares of PM stock opened at $199.92 on Wednesday. Philip Morris International has a 12-month low of $142.11 and a 12-month high of $210.45. The firm has a fifty day moving average of $191.76 and a 200-day moving average of $183.18. The company has a market capitalization of $311.60 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 2.58 and a beta of 0.34.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, October 2nd will be given a dividend of $1.60 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, October 2nd. Philip Morris International’s payout ratio is currently 91.95%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PM shares. BTIG Research set a $221.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a research report on Friday, July 24th. UBS Group increased their price target on shares of Philip Morris International from $182.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 23rd. Morgan Stanley upped their price objective on Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Needham & Company LLC lifted their price target on shares of Philip Morris International from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Finally, Stifel Nicolaus raised their price target on Philip Morris International from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus price target of $207.00.

About Philip Morris International

Philip Morris International Inc (NYSE:PM) is a global tobacco and nicotine company headquartered in Stamford, Connecticut. It was established as an independent company in 2008 following the separation of Philip Morris International from Altria Group. The company develops, manufactures and markets tobacco, nicotine and other related consumer products primarily outside the United States.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M, Chesterfield and Bond Street.