Philip Morris International (NYSE:PM) Releases FY24 Earnings Guidance

Philip Morris International (NYSE:PM) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $6.19-6.31 for the period, compared to the consensus estimate of $6.35. Philip Morris International also updated its FY 2024 guidance to 6.190-6.310 EPS.

Philip Morris International Trading Up 0.3 %

PM stock opened at $94.07 on Tuesday. The firm has a market cap of $146.24 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61. The stock has a 50-day moving average price of $91.29 and a 200-day moving average price of $92.06. Philip Morris International has a 1-year low of $87.23 and a 1-year high of $100.79.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, February 8th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.08). The business had revenue of $9.05 billion for the quarter, compared to analyst estimates of $8.99 billion. Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.39 EPS. On average, analysts forecast that Philip Morris International will post 6.38 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. Shareholders of record on Thursday, March 21st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International’s payout ratio is 103.59%.

Analysts Set New Price Targets

Several analysts have recently commented on PM shares. Argus restated a hold rating on shares of Philip Morris International in a research note on Tuesday, March 5th. Societe Generale upgraded Philip Morris International from a sell rating to a hold rating and set a $87.50 price target on the stock in a report on Tuesday, February 13th. Finally, UBS Group downgraded Philip Morris International from a buy rating to a sell rating and decreased their price objective for the company from $105.00 to $86.50 in a report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Philip Morris International has a consensus rating of Hold and a consensus price target of $105.40.

Insider Buying and Selling at Philip Morris International

In other news, insider Massimo Andolina sold 8,250 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $93.63, for a total value of $772,447.50. Following the completion of the sale, the insider now directly owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of Philip Morris International stock in a transaction 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 transaction, the insider now directly owns 94,629 shares of the company’s stock, valued at approximately $8,860,113.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the sale, the insider now 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 quarter, insiders sold 15,250 shares of company stock worth $1,411,128. Insiders own 0.14% 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.