Philip Morris International (NYSE:PM) Releases FY 2024 Earnings Guidance

Philip Morris International (NYSE:PM) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 6.190-6.310 for the period, compared to the consensus earnings per share estimate of 6.370. The company issued revenue guidance of -. Philip Morris International also updated its FY24 guidance to $6.19-6.31 EPS.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded up $0.06 on Wednesday, hitting $97.72. The company had a trading volume of 3,930,119 shares, compared to its average volume of 5,628,164. The stock has a market capitalization of $151.91 billion, a price-to-earnings ratio of 19.11, a P/E/G ratio of 1.97 and a beta of 0.61. The stock has a 50 day moving average of $91.46 and a 200-day moving average of $92.10. Philip Morris International has a 1 year low of $87.23 and a 1 year high of $100.79.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The company had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter last year, the business posted $1.38 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. Equities analysts anticipate that Philip Morris International will post 6.36 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $5.20 annualized dividend and a yield of 5.32%. Philip Morris International’s payout ratio is 103.59%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PM shares. UBS Group cut Philip Morris International from a buy rating to a sell rating and dropped their price target for the stock from $105.00 to $86.50 in a research report on Tuesday, January 23rd. Societe Generale upgraded shares of Philip Morris International from a sell rating to a hold rating and set a $87.50 target price for the company in a research note on Tuesday, February 13th. Argus reissued a hold rating on shares of Philip Morris International in a research report on Tuesday, March 5th. Finally, Stifel Nicolaus increased their price objective on shares of Philip Morris International from $108.00 to $115.00 and gave the company a buy rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $105.50.

Insiders Place Their Bets

In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $93.63, for a total value of $772,447.50. Following the sale, the insider now directly owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of Philip Morris International stock in a transaction on Friday, March 15th. The shares were sold at an average price of $93.63, for a total value of $772,447.50. Following the completion of the transaction, the insider now owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Werner Barth sold 5,000 shares of Philip Morris International stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $91.46, for a total transaction of $457,300.00. Following the completion of the transaction, the insider now directly owns 102,918 shares of the company’s stock, valued at approximately $9,412,880.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,250 shares of company stock valued at $1,411,128. Insiders own 0.14% 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.