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 earnings per share guidance of 6.190-6.310 for the period, compared to the consensus earnings per share estimate of 6.370. The company issued revenue guidance of -. Philip Morris International also updated its FY24 guidance to $6.19-6.31 EPS.

Analyst Ratings Changes

A number of analysts recently commented on PM shares. Societe Generale upgraded Philip Morris International from a sell rating to a hold rating and set a $87.50 price objective for the company in a research report on Tuesday, February 13th. Argus reaffirmed a hold rating on shares of Philip Morris International in a research note on Tuesday, March 5th. Finally, UBS Group downgraded Philip Morris International from a buy rating to a sell rating and decreased their target price for the stock from $105.00 to $86.50 in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Philip Morris International currently has a consensus rating of Hold and an average target price of $105.40.

Philip Morris International Stock Up 2.4 %

Shares of Philip Morris International stock traded up $2.22 on Tuesday, hitting $96.28. 3,244,687 shares of the company were exchanged, compared to its average volume of 5,524,449. The stock has a market capitalization of $149.67 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61. The company has a 50-day moving average price of $91.29 and a 200 day moving average price of $92.06. Philip Morris International has a 1-year low of $87.23 and a 1-year high of $100.79.

Philip Morris International (NYSE:PM) last announced its earnings results 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). The firm had revenue of $9.05 billion during the quarter, compared to analysts’ expectations of $8.99 billion. Philip Morris International had a net margin of 8.53% and a negative return on equity of 116.29%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 EPS. Research analysts forecast that Philip Morris International will post 6.38 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were paid a dividend of $1.30 per share. The ex-dividend date was Wednesday, March 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.40%. Philip Morris International’s payout ratio is currently 103.59%.

Insider Buying and Selling

In other news, VP Reginaldo Dobrowolski sold 2,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total transaction of $181,380.00. Following the completion of the sale, the vice president now owns 9,726 shares in the company, valued at $882,050.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $93.63, for a total value of $772,447.50. Following the completion of the transaction, the insider now directly owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total transaction of $181,380.00. Following the completion of the transaction, the vice president now directly owns 9,726 shares of the company’s stock, valued at $882,050.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,250 shares of company stock worth $1,411,128. Corporate insiders own 0.14% of the company’s stock.

Philip Morris International Company Profile

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.