Wall Street analysts expect Philip Morris International Inc. (NYSE: PM – Get Rating) to report earnings per share (EPS) of $1.22 for the current quarter, Zacks reports. Four analysts have released earnings estimates for Philip Morris International. The lowest EPS estimate is $1.17 and the highest is $1.25. Philip Morris International posted earnings per share of $1.57 in the same quarter last year, indicating a negative 22.3% year-over-year growth rate. The company is expected to release its next results on Monday, January 1.
According to Zacks, analysts expect Philip Morris International to report annual earnings of $5.50 per share for the current fiscal year, with EPS estimates ranging from $5.32 to $5.70. For the next fiscal year, analysts expect the company to post earnings of $6.03 per share, with EPS estimates ranging from $5.65 to $6.27. Zacks earnings per share calculations are an average based on a survey of sell-side research firms that track Philip Morris International.
Philip Morris International (NYSE:PM – Get Rating) last released quarterly earnings data on Thursday, April 21. The company reported earnings per share of $1.56 for the quarter, beating analyst consensus estimates of $1.48 by $0.08. The company posted revenue of $7.75 billion in the quarter, versus analyst estimates of $7.43 billion. Philip Morris International had a net margin of 10.97% and a negative return on equity of 110.49%. The company’s revenue for the quarter increased by 2.1% compared to the same quarter last year. In the same period a year earlier, the company earned earnings per share of $1.57.
PM has been the subject of several recent research reports. Goldman Sachs Group downgraded shares of Philip Morris International from a ‘buy’ rating to a ‘neutral’ rating and lowered its price target for the company from $116.00 to $100.00 in a Tuesday report March 22. UBS Group raised its price target on shares of Philip Morris International from $95.00 to $110.00 and gave the stock a “neutral” rating in a Thursday, February 17 report. Stifel Nicolaus cut his price target on shares of Philip Morris International from $115.00 to $105.00 and set a “buy” rating for the company in a Friday, March 25 research note. Barclays lowered its price target on shares of Philip Morris International from $125.00 to $120.00 in a Friday, February 25 report. Finally, Bank of America raised its target price on Philip Morris International from $107.00 to $117.00 in a Sunday, April 24 report. Four research analysts gave the stock a hold rating and five gave the stock a buy rating. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $112.00.
PM stock was down $1.10 in Friday trading, hitting $106.97. The company had a trading volume of 6,977,116 shares, compared to its average volume of 6,396,440. The company has a 50-day simple moving average of $100.33 and a 200-day simple moving average of $98.43. Philip Morris International has a 12-month low of $85.64 and a 12-month high of $112.48. The company has a market cap of $165.82 billion, a price-to-earnings ratio of 18.51, a growth price-to-earnings ratio of 3.64, and a beta of 0.67.
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 12. Shareholders of record on Thursday, March 24 received a dividend of $1.25. This represents an annualized dividend of $5.00 and a dividend yield of 4.67%. The ex-dividend date was Wednesday, March 23. Philip Morris International’s payout ratio is 86.51%.
Large investors have recently changed their positions in the stock. Bell Investment Advisors Inc bought a new position in shares of Philip Morris International during the third quarter worth approximately $26,000. Tcwp LLC acquired a new equity stake from Philip Morris International in Q1 worth approximately $26,000. Bivin & Associates Inc. acquired a new equity stake in Philip Morris International in Q4 valued at approximately $27,000. Sandy Cove Advisors LLC acquired a new equity stake in Philip Morris International in Q1 valued at approximately $28,000. Finally, American National Bank strengthened its position in shares of Philip Morris International by 89.1% in the 1st quarter. American National Bank now owns 312 shares of the company valued at $29,000 after buying an additional 147 shares during the period. Hedge funds and other institutional investors hold 74.78% of the company’s shares.
About Philip Morris International (Get a rating)
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, smokeless products and related electronic devices and accessories. The Company offers IQOS smokeless products, including heated tobacco and vapor products containing nicotine under the brands HEETS, HEETS Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks and Parliament HeatSticks, as well as under the Fiit and Miix licensed brands.
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