Philip Morris International Inc (PM) Scheduled to Post Quarterly Earnings on Thursday
Philip Morris International Inc (NYSE:PM) will be announcing its earnings results before the market opens on Thursday, October 19th. Analysts expect the company to announce earnings of $1.38 per share for the quarter. Philip Morris International has set its FY17 guidance at $4.78-4.93 EPS.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.09). The firm had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $7.11 billion. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.15 EPS. On average, analysts expect Philip Morris International to post $4.83 EPS for the current fiscal year and $5.43 EPS for the next fiscal year.
Shares of Philip Morris International Inc (NYSE PM) opened at 114.26 on Thursday. Philip Morris International Inc has a 12 month low of $86.78 and a 12 month high of $123.55. The company has a 50 day moving average of $114.66 and a 200 day moving average of $115.77. The stock has a market cap of $177.47 billion, a P/E ratio of 25.32 and a beta of 0.93.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Wednesday, September 27th will be issued a dividend of $1.07 per share. The ex-dividend date is Tuesday, September 26th. This represents a $4.28 dividend on an annualized basis and a yield of 3.75%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.04. Philip Morris International’s payout ratio is currently 94.90%.
In other news, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total value of $1,624,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.23% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in shares of Philip Morris International by 13.9% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,230 shares of the company’s stock worth $144,000 after purchasing an additional 150 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in Philip Morris International during the second quarter worth $145,000. S&T Bank PA bought a new stake in Philip Morris International during the second quarter worth $228,000. High Falls Advisors Inc bought a new stake in Philip Morris International during the second quarter worth $235,000. Finally, Ackerman Capital Advisors LLC bought a new stake in Philip Morris International during the second quarter worth $241,000. 72.00% of the stock is currently owned by institutional investors and hedge funds.
PM has been the subject of a number of analyst reports. TheStreet upgraded shares of Philip Morris International from a “c+” rating to a “b-” rating in a report on Thursday, July 20th. Zacks Investment Research cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Berenberg Bank set a $96.00 price objective on shares of Philip Morris International and gave the company a “hold” rating in a report on Saturday, June 24th. Citigroup Inc. reiterated a “neutral” rating and issued a $125.00 price target (down previously from $128.00) on shares of Philip Morris International in a report on Monday, July 24th. Finally, Bank of America Corporation upped their price target on shares of Philip Morris International from $123.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, July 10th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $126.23.
Philip Morris International Company Profile
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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