Brokerages Expect Philip Morris International Inc. (NYSE:PM) Will Announce Earnings of $1.35 Per Share

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Wall Street brokerages expect Philip Morris International Inc. (NYSE:PM) to announce $1.35 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Philip Morris International’s earnings. The lowest EPS estimate is $1.33 and the highest is $1.38. Philip Morris International posted earnings of $1.44 per share during the same quarter last year, which indicates a negative year over year growth rate of 6.2%. The business is scheduled to announce its next quarterly earnings results before the market opens on Thursday, October 17th.

On average, analysts expect that Philip Morris International will report full-year earnings of $5.21 per share for the current fiscal year, with EPS estimates ranging from $5.13 to $5.30. For the next year, analysts anticipate that the firm will post earnings of $5.60 per share, with EPS estimates ranging from $5.40 to $5.77. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Philip Morris International.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.42 billion. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 earnings per share.

A number of brokerages have weighed in on PM. JPMorgan Chase & Co. set a $86.00 price target on Philip Morris International and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Credit Suisse Group set a $80.00 price target on Philip Morris International and gave the company a “sell” rating in a research note on Wednesday, August 28th. Wells Fargo & Co set a $102.00 price target on Philip Morris International and gave the company a “buy” rating in a research note on Monday, August 26th. Finally, Morgan Stanley cut their price target on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Philip Morris International presently has an average rating of “Hold” and a consensus price target of $93.77.

In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total value of $96,162.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of PM. Titan Capital Management LLC CA bought a new position in Philip Morris International in the second quarter worth approximately $30,000. River & Mercantile Asset Management LLP purchased a new position in Philip Morris International during the second quarter valued at $32,000. Manchester Financial Inc. bought a new position in Philip Morris International during the second quarter valued at $36,000. Brand Asset Management Group Inc. lifted its position in Philip Morris International by 34.9% during the second quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock valued at $37,000 after purchasing an additional 122 shares during the last quarter. Finally, Prestige Wealth Management Group LLC bought a new stake in shares of Philip Morris International in the 2nd quarter worth about $38,000. Institutional investors own 74.59% of the company’s stock.

Shares of NYSE PM opened at $74.44 on Friday. The business’s 50 day moving average price is $80.12 and its two-hundred day moving average price is $83.07. The company has a market cap of $115.91 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 1.82 and a beta of 0.99. Philip Morris International has a twelve month low of $64.67 and a twelve month high of $92.74.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 25th will be given a dividend of $1.17 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $4.68 annualized dividend and a dividend yield of 6.29%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.14. Philip Morris International’s payout ratio is currently 89.41%.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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Earnings History and Estimates for Philip Morris International (NYSE:PM)

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