Equities research analysts forecast that Philip Morris International (NYSE:PM) will post $7.85 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Philip Morris International’s earnings. The lowest sales estimate is $7.65 billion and the highest is $8.04 billion. Philip Morris International reported sales of $6.92 billion during the same quarter last year, which indicates a positive year over year growth rate of 13.4%. The business is expected to report its next earnings report on Thursday, July 19th.
According to Zacks, analysts expect that Philip Morris International will report full year sales of $32.25 billion for the current financial year, with estimates ranging from $31.82 billion to $32.95 billion. For the next year, analysts anticipate that the firm will report sales of $34.98 billion per share, with estimates ranging from $33.07 billion to $37.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Philip Morris International.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Philip Morris International had a net margin of 7.50% and a negative return on equity of 72.40%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.17 billion. During the same period last year, the business posted $1.10 earnings per share. The firm’s quarterly revenue was up 19.0% on a year-over-year basis.
Several analysts have commented on PM shares. Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Jefferies Group raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a research report on Friday, January 19th. Citigroup raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Wednesday, February 28th. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on shares of Philip Morris International from $120.00 to $123.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Finally, Bank of America lowered shares of Philip Morris International from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $113.00 to $88.00 in a research report on Friday. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $118.29.
Shares of Philip Morris International stock traded down $1.37 during trading hours on Monday, reaching $84.27. The company’s stock had a trading volume of 17,811,218 shares, compared to its average volume of 6,687,770. The company has a current ratio of 1.16, a quick ratio of 0.80 and a debt-to-equity ratio of -2.82. Philip Morris International has a one year low of $83.50 and a one year high of $123.55. The firm has a market capitalization of $133,018.61, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 1.60 and a beta of 0.86.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 11th. Stockholders of record on Thursday, March 22nd were paid a $1.07 dividend. The ex-dividend date was Wednesday, March 21st. This represents a $4.28 annualized dividend and a dividend yield of 5.08%. Philip Morris International’s payout ratio is 86.82%.
In other news, insider Marc S. Firestone sold 13,650 shares of Philip Morris International stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $104.63, for a total value of $1,428,199.50. Following the completion of the transaction, the insider now owns 189,199 shares in the company, valued at $19,795,891.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andre Calantzopoulos sold 49,000 shares of Philip Morris International stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $103.66, for a total transaction of $5,079,340.00. Following the completion of the transaction, the chief executive officer now owns 792,765 shares of the company’s stock, valued at approximately $82,178,019.90. The disclosure for this sale can be found here. 0.22% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Flossbach Von Storch AG grew its stake in Philip Morris International by 89.4% during the fourth quarter. Flossbach Von Storch AG now owns 6,612,322 shares of the company’s stock valued at $698,592,000 after acquiring an additional 3,121,247 shares in the last quarter. Vanguard Group Inc. grew its stake in Philip Morris International by 2.7% during the second quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock valued at $13,092,759,000 after acquiring an additional 2,972,929 shares in the last quarter. Renaissance Technologies LLC grew its stake in Philip Morris International by 93.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,753,131 shares of the company’s stock valued at $607,818,000 after acquiring an additional 2,779,331 shares in the last quarter. BlackRock Inc. grew its stake in Philip Morris International by 2.7% during the second quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock valued at $10,781,538,000 after acquiring an additional 2,421,533 shares in the last quarter. Finally, FMR LLC grew its stake in Philip Morris International by 12.5% during the second quarter. FMR LLC now owns 20,919,201 shares of the company’s stock valued at $2,456,960,000 after acquiring an additional 2,330,864 shares in the last quarter. Hedge funds and other institutional investors own 72.18% of the company’s stock.
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Philip Morris International Company Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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