Philip Morris International Inc. (NYSE:PM) – Equities researchers at Jefferies Group cut their FY2018 earnings per share (EPS) estimates for shares of Philip Morris International in a report released on Monday. Jefferies Group analyst O. Bennett now anticipates that the company will post earnings of $5.30 per share for the year, down from their previous forecast of $5.65. Jefferies Group currently has a “Buy” rating and a $124.00 price target on the stock. Jefferies Group also issued estimates for Philip Morris International’s FY2019 earnings at $5.73 EPS, FY2020 earnings at $5.79 EPS and FY2021 earnings at $6.48 EPS.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.04). Philip Morris International had a net margin of 7.73% and a negative return on equity of 71.99%. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.17 billion. During the same period in the prior year, the business posted $1.10 EPS. Philip Morris International’s revenue for the quarter was up 19.0% compared to the same quarter last year.
Shares of Philip Morris International (NYSE:PM) opened at $108.49 on Wednesday. Philip Morris International has a fifty-two week low of $96.66 and a fifty-two week high of $123.55. The company has a debt-to-equity ratio of -3.06, a current ratio of 1.35 and a quick ratio of 0.80. The company has a market capitalization of $166,570.00, a P/E ratio of 21.84, a P/E/G ratio of 2.01 and a beta of 0.85.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 11th. Investors of record on Thursday, March 22nd will be given a $1.07 dividend. The ex-dividend date of this dividend is Wednesday, March 21st. This represents a $4.28 annualized dividend and a yield of 3.95%. Philip Morris International’s payout ratio is 87.17%.
In other news, insider Marc S. Firestone sold 13,650 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $104.63, for a total transaction of $1,428,199.50. Following the completion of the transaction, the insider now directly owns 189,199 shares in the company, valued at $19,795,891.37. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Andre Calantzopoulos sold 49,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $103.66, for a total value of $5,079,340.00. Following the transaction, the chief executive officer now owns 792,765 shares of the company’s stock, valued at $82,178,019.90. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PM. Flossbach Von Storch AG boosted its position in shares of Philip Morris International by 89.4% during the fourth quarter. Flossbach Von Storch AG now owns 6,612,322 shares of the company’s stock worth $698,592,000 after buying an additional 3,121,247 shares during the period. Vanguard Group Inc. boosted its position in shares of Philip Morris International by 2.7% during the second quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock worth $13,092,759,000 after buying an additional 2,972,929 shares during the period. Renaissance Technologies LLC boosted its holdings in Philip Morris International by 93.5% in the fourth quarter. Renaissance Technologies LLC now owns 5,753,131 shares of the company’s stock valued at $607,818,000 after purchasing an additional 2,779,331 shares during the period. BlackRock Inc. boosted its holdings in Philip Morris International by 2.7% in the second quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock valued at $10,781,538,000 after purchasing an additional 2,421,533 shares during the period. Finally, FMR LLC boosted its holdings in Philip Morris International by 12.5% in the second quarter. FMR LLC now owns 20,919,201 shares of the company’s stock valued at $2,456,960,000 after purchasing an additional 2,330,864 shares during the period. Institutional investors and hedge funds own 72.33% of the company’s stock.
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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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