Philip Morris International (NYSE:PM) Issues Quarterly Earnings Results

Philip Morris International (NYSE:PM) issued its quarterly earnings results on Tuesday. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.09, Briefing.com reports. Philip Morris International had a net margin of 9.83% and a negative return on equity of 113.26%. The business had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the previous year, the firm earned $1.38 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Philip Morris International updated its FY24 guidance to $6.19-6.31 EPS and its FY 2024 guidance to 6.190-6.310 EPS.

Philip Morris International Stock Performance

Shares of PM opened at $96.09 on Friday. Philip Morris International has a fifty-two week low of $87.23 and a fifty-two week high of $100.79. The stock has a market capitalization of $149.38 billion, a PE ratio of 18.77, a P/E/G ratio of 2.09 and a beta of 0.61. The company’s fifty day moving average is $91.79 and its 200 day moving average is $92.18.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.41%. The ex-dividend date was Wednesday, March 20th. Philip Morris International’s dividend payout ratio is presently 101.56%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PM shares. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday. Societe Generale raised shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 target price on the stock in a report on Tuesday, February 13th. UBS Group downgraded shares of Philip Morris International from a “buy” rating to a “sell” rating and lowered their target price for the stock from $105.00 to $86.50 in a report on Tuesday, January 23rd. Finally, Argus reissued a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International currently has an average rating of “Hold” and a consensus price target of $105.50.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, VP Reginaldo Dobrowolski sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total transaction of $181,380.00. Following the transaction, the vice president now owns 9,726 shares in the company, valued at $882,050.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Philip Morris International news, VP Reginaldo Dobrowolski sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total transaction of $181,380.00. Following the transaction, the vice president now owns 9,726 shares in the company, valued at $882,050.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Massimo Andolina sold 8,250 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $93.63, for a total transaction of $772,447.50. Following the transaction, the insider now owns 94,629 shares in the company, valued at approximately $8,860,113.27. The disclosure for this sale can be found here. Insiders have sold 15,250 shares of company stock worth $1,411,128 over the last quarter. Insiders own 0.13% of the company’s stock.

About Philip Morris International

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.