Philip Morris International Inc. (PM) Updates FY17 Earnings Guidance
Philip Morris International Inc. (NYSE:PM) updated its FY17 earnings guidance on Thursday. The company provided EPS guidance of $4.84-4.99 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.89.
Several equities analysts have weighed in on PM shares. Wells Fargo & Co reissued an outperform rating and issued a $110.00 target price on shares of Philip Morris International in a research note on Wednesday, December 21st. Vetr lowered Philip Morris International from a strong-buy rating to a buy rating and set a $98.02 target price on the stock. in a research note on Monday, January 2nd. Bank of America Corp lowered Philip Morris International from a buy rating to a neutral rating and cut their target price for the company from $102.00 to $96.00 in a research note on Wednesday, January 4th. Goldman Sachs Group Inc reissued a buy rating and issued a $102.00 target price (down previously from $109.00) on shares of Philip Morris International in a research note on Tuesday, January 10th. Finally, Zacks Investment Research raised Philip Morris International from a sell rating to a hold rating in a research note on Wednesday, January 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $111.57.
Shares of Philip Morris International Inc. (NYSE:PM) opened at 113.91 on Thursday. The stock’s 50 day moving average price is $112.40 and its 200-day moving average price is $99.25. The firm has a market cap of $176.72 billion, a price-to-earnings ratio of 25.43 and a beta of 0.94. Philip Morris International Inc. has a 52-week low of $86.78 and a 52-week high of $115.63.
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Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, April 20th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.03 by $0.05. The company earned $6.06 billion during the quarter, compared to analysts’ expectations of $6.47 billion. Philip Morris International had a negative return on equity of 64.94% and a net margin of 9.30%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. On average, analysts forecast that Philip Morris International Inc. will post $4.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 11th. Stockholders of record on Thursday, March 23rd were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 3.65%. The ex-dividend date was Tuesday, March 21st. Philip Morris International’s dividend payout ratio (DPR) is presently 92.86%.
In other news, CEO Andre Calantzopoulos sold 35,000 shares of the stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $102.65, for a total value of $3,592,750.00. Following the completion of the sale, the chief executive officer now directly owns 787,671 shares of the company’s stock, valued at $80,854,428.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.
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About Philip Morris International
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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