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

Philip Morris International (NYSE:PM) updated its FY 2024 earnings guidance on Tuesday. 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

PM has been the subject of a number of research analyst reports. UBS Group cut Philip Morris International from a buy rating to a sell rating and decreased their price target for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. Argus reiterated a hold rating on shares of Philip Morris International in a research note on Tuesday, March 5th. Stifel Nicolaus increased their price target on Philip Morris International from $108.00 to $115.00 and gave the company a buy rating in a research note on Wednesday. Finally, Societe Generale upgraded Philip Morris International from a sell rating to a hold rating and set a $87.50 price target for the company in a research note on Tuesday, February 13th. One 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 stock. According to data from MarketBeat.com, Philip Morris International has a consensus rating of Hold and an average price target of $105.50.

Philip Morris International Stock Performance

Philip Morris International stock traded down $0.19 during midday trading on Friday, hitting $95.90. 331,153 shares of the company were exchanged, compared to its average volume of 5,708,259. The firm has a market capitalization of $149.08 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 2.09 and a beta of 0.61. The business has a fifty day simple moving average of $91.79 and a two-hundred day simple moving average of $92.18. Philip Morris International has a fifty-two week low of $87.23 and a fifty-two week high of $100.79.

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

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were given a dividend of $1.30 per share. The ex-dividend date was Wednesday, March 20th. This represents a $5.20 dividend on an annualized basis and a yield of 5.42%. Philip Morris International’s dividend payout ratio is currently 101.56%.

Insiders Place Their Bets

In other news, VP Reginaldo Dobrowolski sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total value of $181,380.00. Following the transaction, the vice president now owns 9,726 shares in the company, valued at $882,050.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $93.63, for a total transaction of $772,447.50. Following the transaction, the insider now owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total value of $181,380.00. Following the transaction, the vice president now directly owns 9,726 shares in the company, valued at approximately $882,050.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,250 shares of company stock worth $1,411,128. 0.13% of the stock is owned by corporate insiders.

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.