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

Philip Morris International (NYSE:PM) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 6.260-6.380 for the period, compared to the consensus earnings per share estimate of 6.380. The company issued revenue guidance of -.

Philip Morris International Stock Up 0.1 %

Shares of NYSE:PM opened at $103.82 on Wednesday. The business’s 50 day moving average is $97.13 and its 200 day moving average is $94.15. The stock has a market cap of $161.39 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 2.13 and a beta of 0.57. Philip Morris International has a 52-week low of $87.23 and a 52-week high of $104.90.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. The company had revenue of $8.79 billion during the quarter, compared to analyst estimates of $8.44 billion. Philip Morris International had a net margin of 8.58% and a negative return on equity of 113.26%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 earnings per share. On average, sell-side analysts anticipate that Philip Morris International will post 6.32 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 21st will be paid a $1.30 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $5.20 annualized dividend and a yield of 5.01%. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of recent analyst reports. Argus restated a hold rating on shares of Philip Morris International in a report on Tuesday, March 5th. Societe Generale raised Philip Morris International from a sell rating to a hold rating and set a $87.50 price target on the stock in a research report on Tuesday, February 13th. Finally, Stifel Nicolaus raised their price objective on Philip Morris International from $108.00 to $115.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International presently has a consensus rating of Hold and a consensus price target of $105.50.

Insider Activity

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the completion of the transaction, the insider now directly owns 178,447 shares of the company’s stock, valued at approximately $17,205,859.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $96.42, for a total value of $1,928,400.00. Following the sale, the insider now owns 178,447 shares in the company, valued at approximately $17,205,859.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Massimo Andolina sold 8,250 shares of Philip Morris International stock in a transaction that occurred 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 $8,860,113.27. The disclosure for this sale can be found here. 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.