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

Philip Morris International (NYSE:PM) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $6.45-6.51 for the period, compared to the consensus EPS estimate of $6.41. Philip Morris International also updated its FY 2024 guidance to 6.450-6.510 EPS.

Philip Morris International Stock Up 0.4 %

Philip Morris International stock traded up $0.54 during midday trading on Thursday, reaching $131.95. 966,545 shares of the stock traded hands, compared to its average volume of 5,351,930. The stock’s fifty day moving average is $121.97 and its 200-day moving average is $109.28. Philip Morris International has a 12 month low of $87.23 and a 12 month high of $132.87. The stock has a market cap of $205.12 billion, a P/E ratio of 25.66, a PEG ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The firm had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. Philip Morris International’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $1.67 EPS. On average, equities analysts predict that Philip Morris International will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is currently 105.47%.

Analyst Ratings Changes

Several equities research analysts have weighed in on PM shares. Citigroup increased their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price target on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Barclays lifted their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Bank of America boosted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.85.

Insiders Place Their Bets

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by company 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.