Wall Street brokerages predict that Philip Morris International Inc. (NYSE:PM) will post earnings of $1.35 per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Philip Morris International’s earnings, with estimates ranging from $1.33 to $1.38. Philip Morris International reported 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 report its next earnings results before the market opens on Thursday, October 17th.
According to Zacks, analysts expect that Philip Morris International will report full year earnings of $5.21 per share for the current financial year, with EPS estimates ranging from $5.13 to $5.30. For the next financial year, analysts anticipate that the company will post earnings of $5.60 per share, with EPS estimates ranging from $5.40 to $5.77. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that that provide coverage for Philip Morris International.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.13. The firm had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.42 billion. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.41 earnings per share.
A number of research firms have commented on PM. Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Credit Suisse Group set a $80.00 price objective on shares of Philip Morris International and gave the stock a “sell” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. set a $86.00 price objective on shares of Philip Morris International and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Wells Fargo & Co set a $102.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a report on Monday, August 26th. Finally, Barclays raised shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $82.00 to $100.00 in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $93.77.
In other news, insider Mario Masseroli sold 1,100 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total transaction of $96,162.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.21% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Philip Morris International by 1.0% in the second quarter. Vanguard Group Inc. now owns 125,492,442 shares of the company’s stock worth $9,854,922,000 after purchasing an additional 1,295,745 shares during the period. BlackRock Inc. grew its stake in Philip Morris International by 5.1% during the 2nd quarter. BlackRock Inc. now owns 100,831,956 shares of the company’s stock valued at $7,918,335,000 after acquiring an additional 4,879,296 shares in the last quarter. Morgan Stanley grew its stake in Philip Morris International by 16.9% during the 2nd quarter. Morgan Stanley now owns 34,485,714 shares of the company’s stock valued at $2,708,164,000 after acquiring an additional 4,998,070 shares in the last quarter. Invesco Ltd. grew its stake in Philip Morris International by 41.5% during the 2nd quarter. Invesco Ltd. now owns 30,080,523 shares of the company’s stock valued at $2,362,224,000 after acquiring an additional 8,824,567 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Philip Morris International by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,736,970 shares of the company’s stock valued at $1,314,354,000 after acquiring an additional 358,545 shares in the last quarter. 74.59% of the stock is owned by institutional investors.
Philip Morris International stock opened at $74.44 on Friday. The company has a market cap of $115.91 billion, a PE ratio of 14.60, a P/E/G ratio of 1.82 and a beta of 0.99. The company has a fifty day moving average price of $80.12 and a two-hundred day moving average price of $83.07. Philip Morris International has a 12 month low of $64.67 and a 12 month high of $92.74.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 25th will be issued a dividend of $1.17 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.14. 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%. Philip Morris International’s payout ratio is 89.41%.
About Philip Morris International
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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