Philip Morris International Inc. (NYSE:PM) Expected to Announce Earnings of $1.08 Per Share

Wall Street analysts expect Philip Morris International Inc. (NYSE:PM) to report earnings per share (EPS) of $1.08 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Philip Morris International’s earnings, with the lowest EPS estimate coming in at $1.02 and the highest estimate coming in at $1.13. Philip Morris International posted earnings per share of $1.46 in the same quarter last year, which would indicate a negative year over year growth rate of 26%. The company is scheduled to report its next quarterly earnings results on Thursday, July 16th.

According to Zacks, analysts expect that Philip Morris International will report full year earnings of $4.95 per share for the current year, with EPS estimates ranging from $4.54 to $5.53. For the next fiscal year, analysts anticipate that the firm will report earnings of $5.41 per share, with EPS estimates ranging from $4.92 to $5.97. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Philip Morris International.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.08. Philip Morris International had a net margin of 9.75% and a negative return on equity of 84.38%. The business had revenue of $7.15 billion during the quarter, compared to the consensus estimate of $6.87 billion. During the same period in the prior year, the firm earned $1.09 EPS. Philip Morris International’s quarterly revenue was up 6.0% compared to the same quarter last year.

A number of analysts have weighed in on PM shares. UBS Group increased their price target on shares of Philip Morris International from $70.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Panmure Gordon raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Friday, April 3rd. Morgan Stanley reduced their price target on shares of Philip Morris International from $99.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. ValuEngine raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Cfra increased their price target on shares of Philip Morris International from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Philip Morris International currently has a consensus rating of “Buy” and a consensus price target of $91.14.

Philip Morris International stock traded down $0.05 during mid-day trading on Monday, reaching $70.45. The company had a trading volume of 2,546,855 shares, compared to its average volume of 5,332,155. Philip Morris International has a 52 week low of $56.01 and a 52 week high of $90.17. The company has a 50 day moving average of $73.12 and a 200-day moving average of $80.74. The firm has a market cap of $109.78 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 2.15 and a beta of 0.79.

In other news, insider Marc S. Firestone sold 22,000 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $86.27, for a total value of $1,897,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.22% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Philip Morris International by 2.3% during the 1st quarter. BlackRock Inc. now owns 96,880,168 shares of the company’s stock worth $7,068,378,000 after purchasing an additional 2,144,926 shares in the last quarter. Capital World Investors increased its position in shares of Philip Morris International by 24.0% during the 1st quarter. Capital World Investors now owns 90,972,989 shares of the company’s stock worth $6,637,389,000 after purchasing an additional 17,583,436 shares in the last quarter. State Street Corp increased its position in shares of Philip Morris International by 1.1% during the 1st quarter. State Street Corp now owns 61,136,786 shares of the company’s stock worth $4,531,459,000 after purchasing an additional 661,043 shares in the last quarter. Capital International Investors increased its position in shares of Philip Morris International by 19.9% during the 1st quarter. Capital International Investors now owns 43,979,756 shares of the company’s stock worth $3,208,763,000 after purchasing an additional 7,299,147 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Philip Morris International by 8.4% during the 1st quarter. Morgan Stanley now owns 42,365,463 shares of the company’s stock worth $3,090,983,000 after purchasing an additional 3,285,330 shares in the last quarter. Institutional investors and hedge funds own 74.02% of the company’s stock.

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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