Philip Morris International (PM) to Release Earnings on Tuesday

Philip Morris International (NYSE:PM) is set to announce its earnings results before the market opens on Tuesday, April 23rd. Analysts expect the company to announce 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.Persons that wish to register for the company’s earnings conference call can do so using this link.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.08). Philip Morris International had a net margin of 8.53% and a negative return on equity of 116.29%. The business had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $8.99 billion. During the same period last year, the business earned $1.39 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. 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

Philip Morris International stock opened at $88.60 on Tuesday. Philip Morris International has a one year low of $87.23 and a one year high of $101.92. The stock has a market capitalization of $137.73 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 2.01 and a beta of 0.61. The business’s fifty day moving average is $91.13 and its 200 day moving average is $92.05.

Philip Morris International Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 5.87%. Philip Morris International’s payout ratio is 103.59%.

Insider Activity

In other news, insider Werner Barth sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $91.46, for a total value of $457,300.00. Following the sale, the insider now owns 102,918 shares in the company, valued at $9,412,880.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Philip Morris International news, insider Werner Barth sold 5,000 shares of Philip Morris International stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $91.46, for a total transaction of $457,300.00. Following the transaction, the insider now directly owns 102,918 shares of the company’s stock, valued at $9,412,880.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Massimo Andolina sold 8,250 shares of Philip Morris International stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $93.63, for a total transaction of $772,447.50. Following the sale, the insider now owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,250 shares of company stock valued at $1,411,128. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PM. PCA Investment Advisory Services Inc. purchased a new position in shares of Philip Morris International during the second quarter worth about $27,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Philip Morris International in the 2nd quarter valued at about $43,000. Studio Investment Management LLC boosted its position in shares of Philip Morris International by 33.8% in the 4th quarter. Studio Investment Management LLC now owns 428 shares of the company’s stock valued at $43,000 after purchasing an additional 108 shares during the period. True Wealth Design LLC acquired a new stake in shares of Philip Morris International in the 4th quarter valued at about $44,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Philip Morris International in the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PM. Societe Generale raised Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price objective on the stock in a research report on Tuesday, February 13th. Argus reissued a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. Finally, UBS Group downgraded Philip Morris International from a “buy” rating to a “sell” rating and decreased their target price for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Philip Morris International has an average rating of “Hold” and a consensus target price of $105.40.

About Philip Morris International

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.