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

Philip Morris International (NYSE:PM) updated its FY 2024 earnings guidance on Tuesday. 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.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PM. 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. Argus reissued a hold rating on shares of Philip Morris International in a research note on Tuesday, March 5th. Finally, UBS Group lowered Philip Morris International from a buy rating to a sell rating and reduced their price objective for the stock from $105.00 to $86.50 in a research note on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $105.40.

Philip Morris International Trading Up 0.3 %

PM opened at $94.07 on Tuesday. The stock has a market cap of $146.24 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.96 and a beta of 0.61. Philip Morris International has a 1 year low of $87.23 and a 1 year high of $100.79. The stock has a fifty day moving average price of $91.29 and a 200 day moving average price of $92.06.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.08). Philip Morris International had a net margin of 8.53% and a negative return on equity of 116.29%. The firm had revenue of $9.05 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same period in the previous year, the business posted $1.39 EPS. Philip Morris International’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, sell-side analysts forecast that Philip Morris International will post 6.38 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were issued a dividend of $1.30 per share. The ex-dividend date was Wednesday, March 20th. This represents a $5.20 annualized dividend and a yield of 5.53%. Philip Morris International’s dividend payout ratio (DPR) is currently 103.59%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was 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 in the company, valued at $8,860,113.27. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was 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 in the company, valued at $8,860,113.27. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction, the insider now owns 102,918 shares in the company, valued at $9,412,880.28. The disclosure for this sale can be found here. Insiders have sold a total of 15,250 shares of company stock worth $1,411,128 over the last three months. Corporate insiders own 0.14% of the company’s stock.

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.