Zacks: Brokerages Expect Philip Morris International Inc. (NYSE:PM) Will Post Quarterly Sales of $7.79 Billion


Share on StockTwits

Brokerages predict that Philip Morris International Inc. (NYSE:PM) will post sales of $7.79 billion for the current quarter, according to Zacks. Four analysts have made estimates for Philip Morris International’s earnings, with estimates ranging from $7.61 billion to $7.99 billion. Philip Morris International posted sales of $6.65 billion during the same quarter last year, which would indicate a positive year over year growth rate of 17.1%. The company is expected to report its next earnings report on Tuesday, July 20th.

On average, analysts expect that Philip Morris International will report full year sales of $31.29 billion for the current financial year, with estimates ranging from $30.86 billion to $31.57 billion. For the next financial year, analysts expect that the business will report sales of $33.01 billion, with estimates ranging from $31.78 billion to $33.93 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Philip Morris International.

Philip Morris International (NYSE:PM) last announced its earnings results on Monday, April 19th. The company reported $1.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.17. The company had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.33 billion. Philip Morris International had a net margin of 10.07% and a negative return on equity of 78.02%. Philip Morris International’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share.

Several research analysts have recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Philip Morris International in a research note on Tuesday, January 19th. They issued a “market perform” rating and a $92.00 price objective for the company. Morgan Stanley raised their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, April 27th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on shares of Philip Morris International from $100.00 to $105.00 in a research note on Friday, January 8th. Barclays lifted their price target on shares of Philip Morris International from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, April 22nd. Finally, Smith Barney Citigroup reiterated a “” rating and set a $105.00 price target (up previously from $100.00) on shares of Philip Morris International in a research note on Friday, January 8th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Buy” and an average price target of $100.23.

Shares of NYSE PM traded down $0.94 during midday trading on Thursday, hitting $94.91. The company’s stock had a trading volume of 5,335,287 shares, compared to its average volume of 4,809,804. The business’s fifty day simple moving average is $91.21 and its two-hundred day simple moving average is $83.37. Philip Morris International has a 1 year low of $66.85 and a 1 year high of $96.54. The firm has a market capitalization of $147.92 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 2.27 and a beta of 0.77.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 9th. Shareholders of record on Monday, March 22nd were issued a dividend of $1.20 per share. The ex-dividend date was Friday, March 19th. This represents a $4.80 dividend on an annualized basis and a yield of 5.06%. Philip Morris International’s payout ratio is currently 92.49%.

In other news, CEO Martin G. King sold 21,066 shares of Philip Morris International stock in a transaction on Tuesday, April 27th. The shares were sold at an average price of $94.51, for a total value of $1,990,947.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Marian Salzman sold 2,000 shares of Philip Morris International stock in a transaction on Friday, February 5th. The shares were sold at an average price of $84.39, for a total transaction of $168,780.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,636 shares of company stock worth $3,156,267. 0.22% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Cibc World Markets Corp boosted its position in shares of Philip Morris International by 3,856.2% during the 4th quarter. Cibc World Markets Corp now owns 7,820,069 shares of the company’s stock worth $647,424,000 after purchasing an additional 7,622,405 shares in the last quarter. FIL Ltd boosted its position in shares of Philip Morris International by 74,956,733.3% during the 4th quarter. FIL Ltd now owns 2,248,705 shares of the company’s stock worth $186,170,000 after purchasing an additional 2,248,702 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Philip Morris International by 6.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,234,265 shares of the company’s stock worth $1,675,196,000 after purchasing an additional 1,154,814 shares in the last quarter. CIBC World Markets Inc. boosted its position in shares of Philip Morris International by 525.4% during the 4th quarter. CIBC World Markets Inc. now owns 1,225,567 shares of the company’s stock worth $101,465,000 after purchasing an additional 1,029,605 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Philip Morris International by 3,039.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 833,258 shares of the company’s stock worth $73,943,000 after purchasing an additional 806,717 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, 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 Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks, and Parliament HeatSticks brands, as well as under the Fiit and Miix licensed brands.

Featured Article: Cryptocurrencies

Get a free copy of the Zacks research report on Philip Morris International (PM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Philip Morris International (NYSE:PM)

Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.