Philip Morris International Inc. (NYSE:PM) Expected to Post Quarterly Sales of $7.67 Billion

Equities analysts predict that Philip Morris International Inc. (NYSE:PM) will report $7.67 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Philip Morris International’s earnings. The highest sales estimate is $7.78 billion and the lowest is $7.55 billion. Philip Morris International reported sales of $7.50 billion during the same quarter last year, which would suggest a positive year over year growth rate of 2.3%. The business is scheduled to report its next quarterly earnings report on Thursday, October 17th.

On average, analysts expect that Philip Morris International will report full year sales of $29.91 billion for the current fiscal year, with estimates ranging from $29.58 billion to $30.35 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $31.28 billion, with estimates ranging from $30.33 billion to $32.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Philip Morris International.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.13. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.42 billion. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company earned $1.41 EPS.

A number of equities research analysts have recently weighed in on the company. ValuEngine lowered Philip Morris International from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Barclays raised Philip Morris International from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $82.00 to $100.00 in a research note on Friday, July 19th. Bank of America raised Philip Morris International from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $81.00 to $94.00 in a research note on Friday, May 17th. Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Finally, Morgan Stanley dropped their price objective on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $93.92.

In related news, insider Mario Masseroli sold 1,100 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total transaction of $96,162.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael R. Kunst purchased 500 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were purchased at an average cost of $80.74 per share, with a total value of $40,370.00. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in shares of Philip Morris International by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,903,052 shares of the company’s stock worth $193,823,000 after purchasing an additional 183,239 shares in the last quarter. Legacy Advisors LLC increased its position in shares of Philip Morris International by 12.4% during the first quarter. Legacy Advisors LLC now owns 3,526 shares of the company’s stock worth $312,000 after acquiring an additional 388 shares during the period. Surevest Inc. increased its position in shares of Philip Morris International by 144.6% during the first quarter. Surevest Inc. now owns 8,699 shares of the company’s stock worth $769,000 after acquiring an additional 5,142 shares during the period. Joel Isaacson & Co. LLC increased its position in shares of Philip Morris International by 1.1% during the first quarter. Joel Isaacson & Co. LLC now owns 17,337 shares of the company’s stock worth $1,532,000 after acquiring an additional 188 shares during the period. Finally, Hexavest Inc. increased its position in shares of Philip Morris International by 9.1% during the first quarter. Hexavest Inc. now owns 651,841 shares of the company’s stock worth $57,616,000 after acquiring an additional 54,395 shares during the period. 74.33% of the stock is owned by institutional investors.

Shares of PM stock traded down $0.02 during trading hours on Monday, reaching $83.04. The company’s stock had a trading volume of 1,005,529 shares, compared to its average volume of 4,673,309. The stock has a market capitalization of $132.26 billion, a P/E ratio of 16.28, a P/E/G ratio of 2.08 and a beta of 0.96. Philip Morris International has a one year low of $64.67 and a one year high of $92.74. The firm’s fifty day simple moving average is $83.45 and its 200 day simple moving average is $83.67.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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

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