Philip Morris International (NYSE:PM) Announces Quarterly Earnings Results

Philip Morris International (NYSE:PM) issued its earnings results on Tuesday. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09, Briefing.com reports. 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 113.26% and a net margin of 9.83%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.38 earnings per share. Philip Morris International updated its FY24 guidance to $6.19-6.31 EPS and its FY 2024 guidance to 6.190-6.310 EPS.

Philip Morris International Stock Performance

Philip Morris International stock opened at $96.09 on Friday. The stock has a market capitalization of $149.38 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 2.09 and a beta of 0.61. Philip Morris International has a 52-week low of $87.23 and a 52-week high of $100.79. The stock’s 50 day moving average price is $91.79 and its two-hundred day moving average price is $92.18.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International’s payout ratio is 101.56%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PM shares. Societe Generale upgraded Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price target on the stock in a report on Tuesday, February 13th. UBS Group cut Philip Morris International from a “buy” rating to a “sell” rating and reduced their price target for the stock from $105.00 to $86.50 in a report on Tuesday, January 23rd. Argus reiterated a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. Finally, Stifel Nicolaus upped their target price on Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Philip Morris International has an average rating of “Hold” and a consensus price target of $105.50.

Insiders Place Their Bets

In other news, insider Massimo Andolina sold 8,250 shares of the company’s stock in a transaction that occurred 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 directly owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Werner Barth sold 5,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $91.46, for a total value of $457,300.00. Following the completion of the sale, the insider now directly owns 102,918 shares of the company’s stock, valued at approximately $9,412,880.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Massimo Andolina sold 8,250 shares of the stock in a transaction on 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 sale, the insider now directly owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,250 shares of company stock worth $1,411,128. Corporate insiders own 0.13% 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.