$8.22 Billion in Sales Expected for Philip Morris International Inc (PM) This Quarter
Wall Street brokerages expect that Philip Morris International Inc (NYSE:PM) will post $8.22 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Philip Morris International’s earnings. The highest sales estimate is $8.59 billion and the lowest is $7.86 billion. Philip Morris International posted sales of $6.97 billion during the same quarter last year, which would suggest a positive year over year growth rate of 17.9%. The firm is expected to issue its next earnings results on Thursday, February 1st.
According to Zacks, analysts expect that Philip Morris International will report full year sales of $8.22 billion for the current year, with estimates ranging from $28.37 billion to $29.38 billion. For the next fiscal year, analysts forecast that the business will post sales of $31.25 billion per share, with estimates ranging from $30.65 billion to $31.64 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Philip Morris International.
Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, October 19th. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.11). Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The firm had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter last year, the company posted $1.25 EPS. The firm’s revenue was up 7.4% on a year-over-year basis.
A number of brokerages have recently commented on PM. Piper Jaffray Companies reaffirmed a “buy” rating and set a $130.00 target price on shares of Philip Morris International in a research report on Sunday. SBG Securities raised shares of Philip Morris International from a “sell” rating to a “hold” rating and raised their target price for the stock from $118.00 to $119.00 in a research report on Friday, August 11th. BidaskClub raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Jefferies Group LLC reissued a “hold” rating and set a $120.00 price objective on shares of Philip Morris International in a report on Thursday, September 28th. Finally, Zacks Investment Research lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Philip Morris International presently has a consensus rating of “Buy” and an average price target of $124.62.
In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of Philip Morris International 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 transaction was disclosed in a document filed with the SEC, which is available through this link. 0.23% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Guidant Wealth Advisors grew its holdings in Philip Morris International by 25.5% in the second quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock worth $110,000 after purchasing an additional 191 shares during the last quarter. Welch Investments LLC purchased a new position in Philip Morris International in the first quarter worth $113,000. American Beacon Advisors Inc. purchased a new position in Philip Morris International in the first quarter worth $114,000. Vantage Investment Advisors LLC grew its holdings in Philip Morris International by 1.0% in the second quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock worth $121,000 after purchasing an additional 10 shares during the last quarter. Finally, Acropolis Investment Management LLC grew its holdings in Philip Morris International by 0.5% in the second quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock worth $123,000 after purchasing an additional 5 shares during the last quarter. 72.00% of the stock is currently owned by institutional investors and hedge funds.
Philip Morris International (NYSE PM) opened at 109.52 on Monday. The firm’s 50 day moving average price is $113.93 and its 200-day moving average price is $115.70. The stock has a market cap of $170.11 billion, a P/E ratio of 24.27 and a beta of 0.93. Philip Morris International has a 12-month low of $86.78 and a 12-month high of $123.55.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th were issued a $1.07 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Tuesday, September 26th. Philip Morris International’s payout ratio is currently 94.48%.
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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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