Philip Morris International (NYSE:PM) Issues Earnings Results

Philip Morris International (NYSE:PM) released its quarterly earnings results on Tuesday. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09, Briefing.com reports. Philip Morris International had a net margin of 8.53% and a negative return on equity of 116.29%. The firm had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the business earned $1.38 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Philip Morris International updated its FY24 guidance to $6.19-6.31 EPS and its FY 2024 guidance to 6.190-6.310 EPS.

Philip Morris International Price Performance

PM stock traded up $3.60 during trading hours on Tuesday, reaching $97.66. The stock had a trading volume of 13,103,287 shares, compared to its average volume of 5,646,268. The stock has a market capitalization of $151.82 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61. The stock has a 50-day simple moving average of $91.29 and a 200 day simple moving average of $92.06. Philip Morris International has a fifty-two week low of $87.23 and a fifty-two week high of $100.79.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date was Wednesday, March 20th. Philip Morris International’s dividend payout ratio is currently 103.59%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group lowered shares of Philip Morris International from a “buy” rating to a “sell” rating and reduced their target price for the stock from $105.00 to $86.50 in a research report on Tuesday, January 23rd. Societe Generale raised shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price target for the company in a research note on Tuesday, February 13th. Finally, Argus reissued a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $105.40.

Insider Activity

In other news, insider Werner Barth sold 5,000 shares of the 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 directly owns 102,918 shares of the company’s stock, valued at $9,412,880.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 shares were 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 approximately $882,050.94. The transaction was disclosed in a legal 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 transaction of $457,300.00. Following the completion of the transaction, the insider now directly 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 15,250 shares of company stock valued at $1,411,128 over the last ninety days. 0.14% 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.