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

Philip Morris International (NYSE:PM) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 6.190-6.310 for the period, compared to the consensus earnings per share estimate of 6.370. The company issued revenue guidance of -. Philip Morris International also updated its FY24 guidance to $6.19-6.31 EPS.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Societe Generale raised shares of Philip Morris International from a sell rating to a hold rating and set a $87.50 target price for the company in a research note on Tuesday, February 13th. UBS Group downgraded shares of Philip Morris International from a buy rating to a sell rating and reduced their price objective 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 given a buy rating to the company’s stock. According to data from MarketBeat, Philip Morris International currently has a consensus rating of Hold and a consensus target price of $105.40.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $94.07 on Tuesday. Philip Morris International has a 52-week low of $87.23 and a 52-week high of $100.79. The company has a market capitalization of $146.24 billion, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61. The company has a 50-day simple moving average of $91.29 and a 200 day simple moving average of $92.06.

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). Philip Morris International had a net margin of 8.53% and a negative return on equity of 116.29%. The firm had revenue of $9.05 billion during the quarter, compared to analyst estimates of $8.99 billion. During the same quarter last year, the business posted $1.39 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts forecast that Philip Morris International will post 6.38 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were paid a $1.30 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $5.20 annualized dividend and a yield of 5.53%. Philip Morris International’s dividend payout ratio (DPR) is currently 103.59%.

Insider Activity at Philip Morris International

In related news, insider Werner Barth sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $91.46, for a total value of $457,300.00. Following the completion of the sale, the insider now directly owns 102,918 shares in the company, valued at approximately $9,412,880.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Philip Morris International news, VP Reginaldo Dobrowolski sold 2,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total value of $181,380.00. Following the transaction, the vice president now directly 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 SEC, which can be accessed through this hyperlink. Also, insider Werner Barth sold 5,000 shares of the 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 completion of the transaction, the insider now directly owns 102,918 shares in the company, valued at $9,412,880.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,250 shares of company stock worth $1,411,128. Insiders own 0.14% of the company’s stock.

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.