Philip Morris International (NYSE:PM – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.09, Briefing.com reports. The business had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $8.44 billion. Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.38 EPS. Philip Morris International updated its FY24 guidance to $6.19-6.31 EPS and its FY 2024 guidance to 6.190-6.310 EPS.
Philip Morris International Trading Up 3.8 %
Shares of PM traded up $3.60 during midday trading on Tuesday, reaching $97.66. 13,103,287 shares of the stock were exchanged, compared to its average volume of 5,646,268. Philip Morris International has a 52 week low of $87.23 and a 52 week high of $100.79. The company’s 50 day moving average is $91.29 and its two-hundred day moving average is $92.06. The company has a market capitalization of $151.82 billion, a P/E ratio of 18.74, a PEG ratio of 1.96 and a beta of 0.61.
Philip Morris International Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date was Wednesday, March 20th. Philip Morris International’s payout ratio is 103.59%.
Insider Activity at Philip Morris International
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on PM. UBS Group cut Philip Morris International from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $105.00 to $86.50 in a report on Tuesday, January 23rd. 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. Finally, Argus reaffirmed a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $105.40.
Check Out Our Latest Research Report on PM
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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