Philip Morris International (NYSE:PM – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $6.45-6.51 for the period, compared to the consensus earnings per share estimate of $6.41. Philip Morris International also updated its FY 2024 guidance to 6.450-6.510 EPS.
Philip Morris International Stock Performance
Shares of PM traded down $1.99 during mid-day trading on Wednesday, hitting $129.42. 754,356 shares of the stock were exchanged, compared to its average volume of 5,344,575. Philip Morris International has a 52-week low of $87.23 and a 52-week high of $131.97. The company has a market cap of $201.19 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. The firm has a 50-day moving average of $121.68 and a two-hundred day moving average of $109.12.
Philip Morris International (NYSE:PM – Get Free Report) last released its 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. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same period last year, the company earned $1.67 earnings per share. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, sell-side analysts predict that Philip Morris International will post 6.45 EPS for the current year.
Philip Morris International Increases Dividend
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on PM shares. Bank of America increased their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Citigroup boosted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays lifted their target price on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. upped their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group boosted their price objective on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus target price of $123.95.
Get Our Latest Research Report on PM
Insiders Place Their Bets
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 shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. In other news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the transaction, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by 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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