Philip Morris International (NYSE:PM) Updates Q3 2021 Earnings Guidance

Philip Morris International (NYSE:PM) issued an update on its third quarter 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.500-$1.550 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.560. The company issued revenue guidance of -.Philip Morris International also updated its FY 2021 guidance to $5.970-$6.070 EPS.

Shares of NYSE:PM traded up $0.94 on Thursday, hitting $101.45. The company had a trading volume of 4,028,761 shares, compared to its average volume of 4,415,302. Philip Morris International has a 52-week low of $68.93 and a 52-week high of $106.51. The business has a 50 day moving average of $101.08 and a 200 day moving average of $96.98. The company has a market cap of $158.11 billion, a PE ratio of 17.66, a PEG ratio of 1.95 and a beta of 0.84.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Monday, July 19th. The company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.02. The business had revenue of $7.84 billion during the quarter, compared to analyst estimates of $7.71 billion. Philip Morris International had a net margin of 11.13% and a negative return on equity of 91.56%. The company’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.29 earnings per share. On average, research analysts predict that Philip Morris International will post 6.07 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 14th. Investors of record on Wednesday, September 29th will be given a $1.25 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend is Tuesday, September 28th. Philip Morris International’s dividend payout ratio (DPR) is 92.84%.

Philip Morris International declared that its Board of Directors has authorized a stock repurchase program on Friday, June 11th that permits the company to repurchase $7.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

PM has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Philip Morris International from $114.00 to $120.00 and gave the stock a buy rating in a research report on Thursday, August 19th. Morgan Stanley reissued a buy rating and set a $110.00 price target on shares of Philip Morris International in a research report on Friday, July 2nd. Barclays set a $98.59 price target on Philip Morris International and gave the stock an overweight rating in a research report on Friday, July 23rd. Piper Sandler boosted their price target on Philip Morris International from $111.00 to $114.00 and gave the stock an overweight rating in a research report on Friday, June 11th. Finally, TheStreet raised Philip Morris International from a c+ rating to a b rating in a research report on Tuesday, July 20th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $102.20.

In related news, CEO Martin G. King sold 21,725 shares of the firm’s stock in a transaction dated Tuesday, July 27th. The stock was sold at an average price of $100.18, for a total transaction of $2,176,410.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

A hedge fund recently raised its stake in Philip Morris International stock. Morgan Stanley lifted its stake in Philip Morris International Inc. (NYSE:PM) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,718,495 shares of the company’s stock after acquiring an additional 120,060 shares during the quarter. Philip Morris International makes up 0.6% of Morgan Stanley’s portfolio, making the stock its 23rd biggest holding. Morgan Stanley owned 2.87% of Philip Morris International worth $4,432,049,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 75.05% of the company’s stock.

About Philip Morris International

Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.

Further Reading: What does a hold rating mean?

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

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