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

Philip Morris International (NYSE:PM) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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.

Analysts Set New Price Targets

Several research firms have recently weighed in on PM. Argus reissued a hold rating on shares of Philip Morris International in a report on Tuesday, March 5th. Stifel Nicolaus upped their price objective on Philip Morris International from $108.00 to $115.00 and gave the company a buy rating in a research note on Wednesday. Societe Generale raised Philip Morris International from a sell rating to a hold rating and set a $87.50 price objective for the company in a research note on Tuesday, February 13th. Finally, UBS Group downgraded Philip Morris International from a buy rating to a sell rating and reduced their price objective for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $105.50.

Philip Morris International Stock Down 3.0 %

Shares of PM traded down $2.93 on Thursday, reaching $96.09. The stock had a trading volume of 7,416,363 shares, compared to its average volume of 5,776,468. The firm has a market capitalization of $149.38 billion, a PE ratio of 18.77, a PEG ratio of 2.05 and a beta of 0.61. The firm has a 50-day moving average of $91.79 and a 200 day moving average of $92.18. Philip Morris International has a twelve month low of $87.23 and a twelve month high of $100.79.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. The firm had revenue of $8.79 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.38 EPS. On average, sell-side analysts anticipate that Philip Morris International will post 6.33 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 given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is currently 101.56%.

Insider Buying and Selling

In other Philip Morris International news, VP Reginaldo Dobrowolski sold 2,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $882,050.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Philip Morris International news, VP Reginaldo Dobrowolski sold 2,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $882,050.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Werner Barth sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $91.46, for a total value of $457,300.00. Following the sale, the insider now owns 102,918 shares of the company’s stock, valued at $9,412,880.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,250 shares of company stock valued at $1,411,128. 0.13% of the stock is currently owned by company insiders.

About Philip Morris International

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.