Philip Morris International Inc. (PM) Expected to Post Quarterly Sales of $7.37 Billion

Brokerages forecast that Philip Morris International Inc. (NYSE:PM) will report sales of $7.37 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Philip Morris International’s earnings. The lowest sales estimate is $7.21 billion and the highest is $7.52 billion. Philip Morris International posted sales of $8.29 billion in the same quarter last year, which suggests a negative year over year growth rate of 11.1%. The firm is expected to report its next quarterly earnings results on Thursday, February 14th.

On average, analysts expect that Philip Morris International will report full year sales of $29.47 billion for the current year, with estimates ranging from $29.24 billion to $29.64 billion. For the next fiscal year, analysts forecast that the business will report sales of $30.08 billion, with estimates ranging from $29.57 billion to $30.88 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Philip Morris International.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, October 18th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.28 by $0.16. The company had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.16 billion. Philip Morris International had a net margin of 8.20% and a negative return on equity of 78.80%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.27 EPS.

Several equities research analysts recently issued reports on PM shares. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Wednesday, July 25th. ValuEngine raised shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a report on Monday, July 30th. Jefferies Financial Group lowered shares of Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a report on Friday, August 24th. Citigroup lifted their price target on shares of Philip Morris International from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 21st. Finally, Zacks Investment Research lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, September 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Philip Morris International has an average rating of “Hold” and an average target price of $94.73.

Institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors grew its holdings in Philip Morris International by 11.0% during the 3rd quarter. Capital Research Global Investors now owns 46,383,194 shares of the company’s stock worth $3,782,086,000 after acquiring an additional 4,613,349 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Philip Morris International by 4.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 34,065,506 shares of the company’s stock worth $2,750,449,000 after acquiring an additional 1,421,021 shares during the last quarter. Capital International Investors grew its holdings in Philip Morris International by 325.0% during the 3rd quarter. Capital International Investors now owns 33,897,955 shares of the company’s stock worth $2,764,039,000 after acquiring an additional 25,922,397 shares during the last quarter. Morgan Stanley grew its holdings in Philip Morris International by 5.0% during the 3rd quarter. Morgan Stanley now owns 23,865,004 shares of the company’s stock worth $1,945,952,000 after acquiring an additional 1,126,960 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Philip Morris International by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,570,730 shares of the company’s stock worth $1,418,660,000 after acquiring an additional 258,809 shares during the last quarter. 72.31% of the stock is currently owned by institutional investors.

Shares of NYSE:PM traded down $2.60 during midday trading on Friday, hitting $83.95. The stock had a trading volume of 5,915,661 shares, compared to its average volume of 6,201,361. The stock has a market capitalization of $134.54 billion, a PE ratio of 17.03, a PEG ratio of 1.98 and a beta of 0.58. Philip Morris International has a fifty-two week low of $76.21 and a fifty-two week high of $111.25.

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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Earnings History and Estimates for Philip Morris International (NYSE:PM)

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