Philip Morris International (NYSE:PM) Updates FY 2024 Earnings Guidance

Philip Morris International (NYSE:PM) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 6.330-6.450 for the period, compared to the consensus earnings per share estimate of 6.330. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PM. Stifel Nicolaus upped their target price on Philip Morris International from $115.00 to $120.00 and gave the company a buy rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $110.00 to $125.00 and gave the stock an overweight rating in a research note on Thursday, July 25th. StockNews.com raised Philip Morris International from a hold rating to a buy rating in a research note on Monday, July 22nd. Bank of America increased their price objective on Philip Morris International from $110.00 to $118.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Philip Morris International from $116.00 to $118.00 and gave the stock a buy rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Philip Morris International has an average rating of Moderate Buy and a consensus target price of $107.80.

Philip Morris International Price Performance

Shares of PM stock traded up $0.36 during trading on Friday, reaching $117.82. The company had a trading volume of 7,405,946 shares, compared to its average volume of 5,061,314. The firm’s 50 day simple moving average is $104.84 and its two-hundred day simple moving average is $97.29. Philip Morris International has a one year low of $87.23 and a one year high of $119.06. The company has a market capitalization of $183.16 billion, a PE ratio of 23.01, a PEG ratio of 2.35 and a beta of 0.58.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the business earned $1.60 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Analysts forecast that Philip Morris International will post 6.41 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.41%. The ex-dividend date was Friday, June 21st. Philip Morris International’s dividend payout ratio is currently 101.56%.

Insiders Place Their Bets

In other news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.