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

Philip Morris International (NYSE:PM) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 6.450-6.510 for the period, compared to the consensus estimate of 6.410. The company issued revenue guidance of -. Philip Morris International also updated its FY24 guidance to $6.45-6.51 EPS.

Philip Morris International Price Performance

PM stock traded up $0.53 during midday trading on Thursday, hitting $131.94. The stock had a trading volume of 474,977 shares, compared to its average volume of 5,350,125. The firm has a market cap of $205.11 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. The business has a 50-day moving average of $121.97 and a two-hundred day moving average of $109.28. Philip Morris International has a 52-week low of $87.23 and a 52-week high of $132.87.

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

Philip Morris International Increases Dividend

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

Analysts Set New Price Targets

PM has been the topic of several analyst reports. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. upped their price target on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup upped their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Bank of America upped their price target on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, UBS Group upped their price target on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.85.

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 that occurred on 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 completion of the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by company 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.