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

Philip Morris International (NYSE:PM) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 6.450-6.510 for the period, compared to the consensus EPS 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 Stock Performance

NYSE:PM opened at $131.42 on Wednesday. Philip Morris International has a fifty-two week low of $87.23 and a fifty-two week high of $131.97. The stock has a market capitalization of $204.30 billion, a P/E ratio of 25.67, a P/E/G ratio of 2.35 and a beta of 0.55. The company’s 50-day simple moving average is $121.68 and its 200-day simple moving average is $109.12.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period last year, the business earned $1.60 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. On average, research analysts forecast that Philip Morris International will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.11%. Philip Morris International’s dividend payout ratio (DPR) is 105.47%.

Analysts Set New Price Targets

A number of research firms have issued reports on PM. The Goldman Sachs Group raised their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. UBS Group reduced their price target on shares of Philip Morris International from $105.00 to $103.00 and set a “sell” rating for the company in a research report on Tuesday, October 15th. Bank of America raised their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One equities research 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 data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus price target of $123.95.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the transaction, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.