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

Philip Morris International (NYSE:PMGet Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 6.260-6.380 for the period, compared to the consensus estimate of 6.380. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Philip Morris International from $108.00 to $115.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Argus reissued a hold rating on shares of Philip Morris International in a research note on Tuesday, March 5th. One research 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.com, Philip Morris International presently has a consensus rating of Hold and a consensus target price of $105.50.

Check Out Our Latest Research Report on Philip Morris International

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $101.95 on Friday. The business has a 50-day moving average of $97.60 and a 200 day moving average of $94.26. Philip Morris International has a 12 month low of $87.23 and a 12 month high of $104.90. The stock has a market capitalization of $158.49 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 2.11 and a beta of 0.57.

Philip Morris International (NYSE:PMGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. The company had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.44 billion. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. Philip Morris International’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 EPS. Equities research analysts anticipate that Philip Morris International will post 6.32 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 21st will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.10%. The ex-dividend date is Friday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

Insider Transactions at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the sale, the insider now owns 178,447 shares of the company’s stock, valued at approximately $17,205,859.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

About Philip Morris International

(Get Free Report)

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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Earnings History and Estimates for Philip Morris International (NYSE:PM)

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