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

Philip Morris International (NYSE:PM) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 6.190-6.310 for the period, compared to the consensus 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 Up 2.4 %

Shares of PM traded up $2.22 on Tuesday, hitting $96.28. 3,244,687 shares of the stock traded hands, compared to its average volume of 5,524,449. The firm has a market capitalization of $149.67 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.96 and a beta of 0.61. The stock’s 50 day moving average is $91.29 and its two-hundred day moving average is $92.06. 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 results on Thursday, February 8th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.08). Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The company had revenue of $9.05 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same period last year, the company posted $1.39 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts forecast that Philip Morris International will post 6.38 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.40%. The ex-dividend date was Wednesday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is 103.59%.

Analysts Set New Price Targets

PM has been the subject of several research analyst reports. Societe Generale raised shares of Philip Morris International from a sell rating to a hold rating and set a $87.50 price target for the company in a research report on Tuesday, February 13th. UBS Group lowered shares of 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. Finally, Argus reaffirmed a hold rating on shares of Philip Morris International in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of Hold and a consensus price target of $105.40.

Insider Transactions at Philip Morris International

In related news, insider Massimo Andolina sold 8,250 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $93.63, for a total transaction of $772,447.50. Following the completion of the sale, the insider now directly owns 94,629 shares of the company’s stock, valued at approximately $8,860,113.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Massimo Andolina sold 8,250 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $93.63, for a total transaction of $772,447.50. Following the completion of the sale, the insider now directly owns 94,629 shares of the company’s stock, valued at approximately $8,860,113.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total transaction of $181,380.00. Following the sale, the vice president now directly owns 9,726 shares of the company’s stock, valued at $882,050.94. The disclosure for this sale can be found here. Insiders sold 15,250 shares of company stock valued at $1,411,128 over the last 90 days. Corporate 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.