Philip Morris International (NYSE:PM – Get Free Report) 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 – Get Free Report) 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
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.
Check Out Our Latest Stock Report on Philip Morris International
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.
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