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

Philip Morris International (NYSE:PM) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 6.190-6.310 for the period, compared to the consensus EPS 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 Analysts Forecast Growth

Several brokerages have recently weighed in on PM. Societe Generale upgraded Philip Morris International from a sell rating to a hold rating and set a $87.50 target price on the stock in a report on Tuesday, February 13th. Argus restated a hold rating on shares of Philip Morris International in a report on Tuesday, March 5th. UBS Group cut Philip Morris International from a buy rating to a sell rating and lowered their target price for the stock from $105.00 to $86.50 in a report on Tuesday, January 23rd. Finally, Stifel Nicolaus boosted their target price on Philip Morris International from $108.00 to $115.00 and gave the stock a buy rating in a report on Wednesday. One research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $105.50.

Philip Morris International Stock Performance

Shares of NYSE:PM traded up $0.06 during trading on Wednesday, hitting $97.72. The company’s stock had a trading volume of 3,930,119 shares, compared to its average volume of 5,628,164. The business has a 50 day moving average price of $91.46 and a two-hundred day moving average price of $92.10. The company has a market capitalization of $151.91 billion, a PE ratio of 19.11, a P/E/G ratio of 1.97 and a beta of 0.61. 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 posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09. The business had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $8.44 billion. Philip Morris International had a net margin of 8.53% and a negative return on equity of 116.29%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 earnings per share. As a group, equities analysts expect that Philip Morris International will post 6.36 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.32%. Philip Morris International’s payout ratio is currently 103.59%.

Insider Buying and Selling

In other Philip Morris International news, VP Reginaldo Dobrowolski sold 2,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total value of $181,380.00. Following the completion of the transaction, the vice president now owns 9,726 shares in the company, valued at $882,050.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Massimo Andolina sold 8,250 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were 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 filing with the Securities & Exchange Commission, which is available through this link. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total transaction of $181,380.00. Following the completion of the sale, the vice president now directly owns 9,726 shares of the company’s stock, valued at $882,050.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,250 shares of company stock worth $1,411,128. Corporate 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.