Wall Street brokerages expect that Philip Morris International Inc. (NYSE:PM) will report $7.06 billion in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Philip Morris International’s earnings, with estimates ranging from $7.02 billion to $7.1 billion. Philip Morris International posted sales of $6.65 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 6.2%. The firm is expected to issue its next quarterly earnings report on Tuesday, July 18th.
According to Zacks, analysts expect that Philip Morris International will report full year sales of $7.06 billion for the current fiscal year, with estimates ranging from $27.61 billion to $28.69 billion. For the next fiscal year, analysts forecast that the business will report sales of $30.07 billion per share, with estimates ranging from $27.31 billion to $31.51 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Philip Morris International.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, April 20th. The company reported $0.98 EPS for the quarter, missing the Zacks’ consensus estimate of $1.03 by $0.05. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $6.47 billion. Philip Morris International had a net margin of 9.30% and a negative return on equity of 64.94%. Philip Morris International’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS.
PM has been the subject of a number of research analyst reports. Vetr lowered shares of Philip Morris International from a “hold” rating to a “sell” rating and set a $108.70 price target for the company. in a research note on Monday. Citigroup Inc upped their price target on shares of Philip Morris International from $107.00 to $118.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 25th. Zacks Investment Research lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $118.00 price target on shares of Philip Morris International in a research note on Sunday, April 23rd. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Philip Morris International in a research note on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. Philip Morris International currently has a consensus rating of “Buy” and an average price target of $114.56.
Shares of Philip Morris International (NYSE:PM) traded down 0.62% during midday trading on Friday, reaching $111.93. 4,491,563 shares of the company were exchanged. The company’s 50-day moving average price is $112.53 and its 200 day moving average price is $100.53. The stock has a market capitalization of $173.84 billion, a price-to-earnings ratio of 24.77 and a beta of 0.94. Philip Morris International has a 52-week low of $86.78 and a 52-week high of $115.63.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 11th. Investors of record on Thursday, March 23rd were issued a $1.04 dividend. The ex-dividend date of this dividend was Tuesday, March 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.72%. Philip Morris International’s payout ratio is currently 92.86%.
In related news, CEO Andre Calantzopoulos sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $102.65, for a total value of $3,592,750.00. Following the sale, the chief executive officer now directly owns 787,671 shares in the company, valued at approximately $80,854,428.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Gradient Investments LLC raised its stake in Philip Morris International by 76.1% in the first quarter. Gradient Investments LLC now owns 986 shares of the company’s stock worth $111,000 after buying an additional 426 shares in the last quarter. Welch Investments LLC purchased a new stake in Philip Morris International during the first quarter worth about $113,000. Acropolis Investment Management LLC purchased a new stake in Philip Morris International during the first quarter worth about $117,000. Gemmer Asset Management LLC raised its stake in Philip Morris International by 40.6% in the first quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock worth $126,000 after buying an additional 322 shares in the last quarter. Finally, Cornerstone Advisors Inc. raised its stake in Philip Morris International by 1.1% in the third quarter. Cornerstone Advisors Inc. now owns 1,155 shares of the company’s stock worth $112,000 after buying an additional 13 shares in the last quarter. Institutional investors and hedge funds own 71.65% of the company’s stock.
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About Philip Morris International
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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