Philip Morris International (PM) Set to Announce Quarterly Earnings on Tuesday

Philip Morris International (NYSE:PMGet Free Report) will be posting its quarterly earnings results before the market opens on Tuesday, April 23rd. Analysts expect Philip Morris International to post earnings of $1.40 per share for the quarter. Philip Morris International has set its FY24 guidance at $6.43 to $6.55 EPS and its FY 2024 guidance at 6.320-6.440 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Philip Morris International (NYSE:PMGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $1.36 earnings per share 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 business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 earnings per share. On average, analysts expect Philip Morris International to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Philip Morris International Price Performance

NYSE:PM opened at $93.77 on Friday. The firm has a 50-day moving average of $91.20 and a two-hundred day moving average of $92.04. The stock has a market cap of $145.77 billion, a P/E ratio of 18.68, a PEG ratio of 1.90 and a beta of 0.61. Philip Morris International has a 1-year low of $87.23 and a 1-year high of $100.79.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were given 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 5.55%. Philip Morris International’s payout ratio is currently 103.59%.

Insider Activity

In related news, VP Reginaldo Dobrowolski sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 directly 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 at this link. In related news, insider Massimo Andolina sold 8,250 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $93.63, for a total transaction of $772,447.50. Following the completion of the sale, the insider now directly owns 94,629 shares in the company, valued at $8,860,113.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total transaction of $181,380.00. Following the sale, the vice president now owns 9,726 shares of the company’s stock, valued at $882,050.94. The disclosure for this sale can be found here. Insiders sold 15,250 shares of company stock worth $1,411,128 over the last three months. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Philip Morris International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PM. PCA Investment Advisory Services Inc. purchased a new stake in Philip Morris International in the 2nd quarter worth approximately $27,000. Studio Investment Management LLC lifted its position in Philip Morris International by 33.8% in the 4th quarter. Studio Investment Management LLC now owns 428 shares of the company’s stock worth $43,000 after buying an additional 108 shares in the last quarter. True Wealth Design LLC purchased a new stake in Philip Morris International in the 4th quarter worth approximately $44,000. Coppell Advisory Solutions LLC purchased a new stake in Philip Morris International in the 2nd quarter worth approximately $43,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Philip Morris International in the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the topic of a number of recent analyst reports. Argus restated a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. UBS Group lowered shares of Philip Morris International from a “buy” rating to a “sell” rating and cut their target price for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. Finally, Societe Generale upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 target price on the stock in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Hold” and an average price target of $105.40.

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About Philip Morris International

(Get Free Report)

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.

See Also

Earnings History for Philip Morris International (NYSE:PM)

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