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

Philip Morris International (NYSE:PM) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 6.450-6.510 for the period, compared to the consensus estimate of 6.410. The company issued revenue guidance of -. Philip Morris International also updated its FY24 guidance to $6.45-6.51 EPS.

Philip Morris International Stock Performance

PM stock traded up $0.53 on Thursday, hitting $131.94. 474,977 shares of the company’s stock were exchanged, compared to its average volume of 5,350,125. Philip Morris International has a 12-month low of $87.23 and a 12-month high of $132.87. The firm has a 50 day moving average price of $121.97 and a two-hundred day moving average price of $109.28. The stock has a market cap of $205.11 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.09. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the previous year, the business earned $1.67 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts expect that Philip Morris International will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.09%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is currently 105.47%.

Analyst Ratings Changes

A number of analysts have commented on PM shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday. Citigroup boosted their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. UBS Group boosted their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. One 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 stock. Based on data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average price target of $126.85.

Insider Activity

In other news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.13% 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.