Philip Morris International (NYSE:PM) Releases FY24 Earnings Guidance

Philip Morris International (NYSE:PM) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $6.19-6.31 for the period, compared to the consensus estimate of $6.35. Philip Morris International also updated its FY 2024 guidance to 6.190-6.310 EPS.

Analyst Upgrades and Downgrades

PM has been the subject of several analyst reports. Societe Generale upgraded shares of Philip Morris International from a sell rating to a hold rating and set a $87.50 target price for the company in a research report on Tuesday, February 13th. UBS Group lowered shares of Philip Morris International from a buy rating to a sell rating and cut their target price for the stock from $105.00 to $86.50 in a research note on Tuesday, January 23rd. Stifel Nicolaus increased their target price on shares of Philip Morris International from $108.00 to $115.00 and gave the company a buy rating in a report on Wednesday. Finally, Argus restated a hold rating on shares of Philip Morris International in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $105.50.

Philip Morris International Stock Up 0.0 %

PM stock traded up $0.04 during midday trading on Wednesday, hitting $97.70. The company’s stock had a trading volume of 3,237,079 shares, compared to its average volume of 5,621,766. Philip Morris International has a 12 month low of $87.23 and a 12 month high of $100.79. The firm has a market capitalization of $151.88 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 1.97 and a beta of 0.61. The company has a 50 day moving average of $91.46 and a two-hundred day moving average of $92.10.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. The firm had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $8.44 billion. Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.38 EPS. On average, analysts anticipate that Philip Morris International will post 6.36 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Massimo Andolina sold 8,250 shares of the firm’s stock in a transaction on 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 owns 94,629 shares in the company, valued at $8,860,113.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related 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 sale, the insider now 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 through the SEC website. Also, 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 sale, the vice president now directly owns 9,726 shares in the company, valued at approximately $882,050.94. 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 quarter. Company 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.