Wall Street analysts expect that Philip Morris International Inc. (NYSE:PM) will report sales of $7.34 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Philip Morris International’s earnings. The highest sales estimate is $7.52 billion and the lowest is $6.90 billion. Philip Morris International posted sales of $7.73 billion during the same quarter last year, which would indicate a negative year over year growth rate of 5%. The firm is expected to issue its next earnings results before the market opens on Thursday, July 18th.
On average, analysts expect that Philip Morris International will report full year sales of $29.38 billion for the current fiscal year, with estimates ranging from $28.64 billion to $29.79 billion. For the next fiscal year, analysts expect that the business will report sales of $30.70 billion, with estimates ranging from $29.79 billion to $31.68 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Philip Morris International.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, April 18th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The company had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.76 billion. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 earnings per share.
A number of equities research analysts recently weighed in on PM shares. ValuEngine upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Citigroup upped their target price on Philip Morris International from $90.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Bank of America reaffirmed a “sell” rating and set a $74.00 target price on shares of Philip Morris International in a research report on Tuesday, March 26th. Zacks Investment Research lowered Philip Morris International from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Finally, Morgan Stanley upped their target price on Philip Morris International from $88.00 to $94.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $92.57.
In other news, Director Louis C. Camilleri sold 70,000 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $83.54, for a total value of $5,847,800.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Michael R. Kunst acquired 2,500 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was purchased at an average cost of $84.67 per share, for a total transaction of $211,675.00. The disclosure for this purchase can be found here. Insiders bought 4,000 shares of company stock worth $331,705 over the last three months. Corporate insiders own 0.21% of the company’s stock.
Several hedge funds have recently made changes to their positions in PM. Fulton Bank N.A. boosted its stake in shares of Philip Morris International by 2.4% in the second quarter. Fulton Bank N.A. now owns 49,700 shares of the company’s stock worth $3,903,000 after buying an additional 1,169 shares during the last quarter. Thomasville National Bank boosted its stake in shares of Philip Morris International by 3.3% in the second quarter. Thomasville National Bank now owns 26,808 shares of the company’s stock worth $2,105,000 after buying an additional 847 shares during the last quarter. Bath Savings Trust Co boosted its stake in shares of Philip Morris International by 7.8% in the second quarter. Bath Savings Trust Co now owns 4,706 shares of the company’s stock worth $369,000 after buying an additional 342 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Philip Morris International by 2.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,304,077 shares of the company’s stock worth $115,268,000 after buying an additional 25,774 shares during the last quarter. Finally, Sepio Capital LLC boosted its stake in shares of Philip Morris International by 3.1% in the first quarter. Sepio Capital LLC now owns 19,508 shares of the company’s stock worth $1,724,000 after buying an additional 581 shares during the last quarter. 73.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE PM opened at $80.12 on Thursday. The stock has a market cap of $124.65 billion, a PE ratio of 15.71, a P/E/G ratio of 2.02 and a beta of 0.96. Philip Morris International has a 1-year low of $64.67 and a 1-year high of $92.74. The stock’s fifty day moving average is $79.93.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 21st will be issued a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date is Thursday, June 20th. Philip Morris International’s dividend payout ratio is presently 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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