Philip Morris International (PM) Set to Announce Earnings on Tuesday

Philip Morris International (NYSE:PM - Get Free Report) will announce its earnings results before the market opens on Tuesday, October 22nd. Analysts expect the company to announce earnings of $1.83 per share for the quarter. Philip Morris International has set its FY24 guidance at $6.33-6.45 EPS and its Q3 2024 guidance at 1.770-1.820 EPS.Individual that wish to listen to the company's earnings conference call can do so using this link.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company had revenue of $9.47 billion during the quarter, compared to analysts' expectations of $9.19 billion. During the same period in the previous year, the company earned $1.60 EPS. The business's revenue for the quarter was up 5.6% compared to the same quarter last year. On average, analysts expect Philip Morris International to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Philip Morris International Stock Performance

Shares of NYSE PM traded up $0.34 during trading hours on Tuesday, hitting $120.42. 5,496,639 shares of the stock were exchanged, compared to its average volume of 5,352,301. The company's fifty day simple moving average is $120.97 and its two-hundred day simple moving average is $107.81. The company has a market cap of $187.20 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. Philip Morris International has a 1-year low of $87.23 and a 1-year high of $128.22.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This is a boost from Philip Morris International's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.48%. Philip Morris International's dividend payout ratio is presently 105.47%.

Insiders Place Their Bets

In related news, insider Wilde Frederic De sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the sale, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Massimo Andolina sold 9,000 shares of the firm's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares of the company's stock, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PM. Bank of America boosted their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Stifel Nicolaus increased their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. UBS Group lowered their price objective on shares of Philip Morris International from $105.00 to $103.00 and set a "sell" rating for the company in a research report on Tuesday. Finally, Citigroup raised their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $123.95.

Philip Morris International Company Profile

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.