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

Philip Morris International (NYSE:PM) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $6.45-6.51 for the period, compared to the consensus estimate of $6.41. Philip Morris International also updated its FY 2024 guidance to 6.450-6.510 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PM shares. UBS Group upped their target price on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday. Bank of America boosted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Barclays lifted their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Finally, Citigroup upped their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average target price of $126.85.

Philip Morris International Trading Up 0.4 %

PM stock traded up $0.54 during midday trading on Thursday, hitting $131.95. The company’s stock had a trading volume of 966,545 shares, compared to its average volume of 5,351,930. The company has a market cap of $205.12 billion, a PE ratio of 25.66, a P/E/G ratio of 2.35 and a beta of 0.55. The firm’s 50-day moving average is $121.97 and its 200-day moving average is $109.28. Philip Morris International has a 12 month low of $87.23 and a 12 month high of $132.87.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The firm had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.67 earnings per share. Analysts expect that Philip Morris International will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s payout ratio is currently 105.47%.

Insider Buying and Selling at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is owned by corporate insiders.

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.