Philip Morris International (NYSE:PM) Releases FY24 Earnings Guidance

Philip Morris International (NYSE:PM) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $6.19-6.31 for the period, compared to the consensus estimate of $6.35. Philip Morris International also updated its FY 2024 guidance to 6.190-6.310 EPS.

Wall Street Analyst Weigh In

PM has been the subject of several recent research reports. Societe Generale raised Philip Morris International from a sell rating to a hold rating and set a $87.50 price target for the company in a report on Tuesday, February 13th. UBS Group downgraded shares of Philip Morris International from a buy rating to a sell rating and decreased their price target for the stock from $105.00 to $86.50 in a research note on Tuesday, January 23rd. Finally, Argus restated a hold rating on shares of Philip Morris International in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Philip Morris International presently has a consensus rating of Hold and a consensus target price of $105.40.

Philip Morris International Stock Up 2.0 %

Shares of NYSE:PM opened at $95.93 on Tuesday. Philip Morris International has a 12 month low of $87.23 and a 12 month high of $100.79. The company’s 50-day moving average price is $91.29 and its two-hundred day moving average price is $92.06. The firm has a market cap of $149.13 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.96 and a beta of 0.61.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, February 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.08). The business had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $8.99 billion. Philip Morris International had a net margin of 8.53% and a negative return on equity of 116.29%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $1.39 EPS. As a group, equities analysts predict that Philip Morris International will post 6.38 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.42%. The ex-dividend date was Wednesday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 103.59%.

Insider Buying and Selling

In related news, VP Reginaldo Dobrowolski sold 2,000 shares of Philip Morris International stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total transaction of $181,380.00. Following the transaction, the vice president now owns 9,726 shares of the company’s stock, valued at approximately $882,050.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Massimo Andolina sold 8,250 shares of Philip Morris International stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $93.63, for a total transaction of $772,447.50. Following the transaction, the insider now owns 94,629 shares of the company’s stock, valued at approximately $8,860,113.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total transaction of $181,380.00. Following the sale, the vice president now owns 9,726 shares in the company, valued at $882,050.94. The disclosure for this sale can be found here. Insiders have sold 15,250 shares of company stock valued at $1,411,128 in the last 90 days. 0.14% of the stock is 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.