Wall Street analysts forecast that Philip Morris International Inc. (NYSE:PM) will post earnings per share of $1.18 for the current quarter, Zacks reports. Four analysts have made estimates for Philip Morris International’s earnings, with the highest EPS estimate coming in at $1.29 and the lowest estimate coming in at $1.14. Philip Morris International posted earnings of $1.31 per share during the same quarter last year, which suggests a negative year over year growth rate of 9.9%. The firm is scheduled to report its next earnings report on Thursday, February 14th.
According to Zacks, analysts expect that Philip Morris International will report full year earnings of $5.01 per share for the current year, with EPS estimates ranging from $4.99 to $5.06. For the next fiscal year, analysts forecast that the firm will post earnings of $5.31 per share, with EPS estimates ranging from $5.06 to $5.75. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Philip Morris International.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, October 18th. The company reported $1.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.16. Philip Morris International had a net margin of 8.20% and a negative return on equity of 78.80%. The firm had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.16 billion. During the same period in the prior year, the firm earned $1.27 EPS. The company’s revenue was up .4% compared to the same quarter last year.
A number of research analysts have recently weighed in on PM shares. ValuEngine downgraded shares of Philip Morris International from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 23rd. Jefferies Financial Group downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a report on Friday, August 24th. Citigroup raised their price objective on shares of Philip Morris International from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 21st. Zacks Investment Research downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Finally, Piper Jaffray Companies set a $99.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a report on Wednesday, October 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $95.73.
Philip Morris International stock opened at $84.56 on Friday. Philip Morris International has a twelve month low of $76.21 and a twelve month high of $111.25. The company has a market cap of $132.80 billion, a PE ratio of 17.15, a P/E/G ratio of 1.96 and a beta of 0.60.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Thursday, December 20th will be issued a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend is Wednesday, December 19th. Philip Morris International’s dividend payout ratio (DPR) is presently 92.49%.
In related news, Director Louis C. Camilleri sold 59,495 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $86.98, for a total value of $5,174,875.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the business. Matthew Goff Investment Advisor LLC bought a new position in Philip Morris International in the 3rd quarter valued at $161,000. Great Lakes Advisors LLC boosted its holdings in Philip Morris International by 4.0% in the 3rd quarter. Great Lakes Advisors LLC now owns 971,966 shares of the company’s stock valued at $79,254,000 after purchasing an additional 37,661 shares during the period. Carnegie Capital Asset Management LLC boosted its holdings in Philip Morris International by 14.8% in the 3rd quarter. Carnegie Capital Asset Management LLC now owns 9,163 shares of the company’s stock valued at $788,000 after purchasing an additional 1,179 shares during the period. Belpointe Asset Management LLC raised its position in shares of Philip Morris International by 233.0% during the 3rd quarter. Belpointe Asset Management LLC now owns 12,029 shares of the company’s stock valued at $981,000 after buying an additional 8,417 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Philip Morris International by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 118,890,424 shares of the company’s stock valued at $9,694,325,000 after buying an additional 1,516,211 shares in the last quarter. 73.32% of the stock is owned by hedge funds and other institutional investors.
Philip Morris International Company Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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