Philip Morris International (NYSE:PM – Get Free Report) released its earnings results on Tuesday. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.09, Briefing.com reports. The company had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $8.44 billion. Philip Morris International had a negative return on equity of 113.26% and a net margin of 9.83%. Philip Morris International’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.38 EPS. Philip Morris International updated its FY24 guidance to $6.19-6.31 EPS and its FY 2024 guidance to 6.190-6.310 EPS.
Philip Morris International Stock Performance
Shares of PM stock opened at $99.03 on Thursday. The stock’s 50-day moving average is $91.65 and its two-hundred day moving average is $92.15. Philip Morris International has a 1 year low of $87.23 and a 1 year high of $100.79. The firm has a market cap of $153.95 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.05 and a beta of 0.61.
Philip Morris International Announces Dividend
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 $1.30 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $5.20 dividend on an annualized basis and a yield of 5.25%. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.
Insider Activity
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on PM. Argus reiterated a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. Societe Generale upgraded 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 note on Tuesday, February 13th. UBS Group downgraded shares of Philip Morris International from a “buy” rating to a “sell” rating and dropped their price objective for the company from $105.00 to $86.50 in a research report on Tuesday, January 23rd. Finally, Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $105.50.
Get Our Latest Stock Analysis on PM
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.
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