Philip Morris International Inc. (NYSE:PM) Expected to Announce Earnings of $1.32 Per Share

Equities analysts expect Philip Morris International Inc. (NYSE:PM) to post earnings per share of $1.32 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Philip Morris International’s earnings, with estimates ranging from $1.26 to $1.36. Philip Morris International posted earnings of $1.41 per share during the same quarter last year, which would suggest a negative year over year growth rate of 6.4%. The company is scheduled to report its next quarterly earnings results before the market opens on Thursday, July 18th.

On average, analysts expect that Philip Morris International will report full year earnings of $5.14 per share for the current year, with EPS estimates ranging from $5.10 to $5.19. For the next financial year, analysts expect that the company will post earnings of $5.55 per share, with EPS estimates ranging from $5.38 to $5.67. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow Philip Morris International.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, April 18th. The company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.10. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.76 billion. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 EPS.

PM has been the subject of a number of research analyst reports. ValuEngine raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Barclays raised shares of Philip Morris International from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $67.00 to $82.00 in a research report on Thursday, May 23rd. Bank of America reaffirmed a “sell” rating and set a $74.00 price objective on shares of Philip Morris International in a research report on Tuesday, March 26th. Zacks Investment Research lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Finally, Morgan Stanley upped their price objective on shares of Philip Morris International from $88.00 to $94.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Philip Morris International has an average rating of “Hold” and an average price target of $92.57.

In other Philip Morris International news, VP Michael R. Kunst purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average price of $79.66 per share, with a total value of $79,660.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mario Masseroli sold 1,200 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $84.32, for a total transaction of $101,184.00. The disclosure for this sale can be found here. Insiders purchased 4,000 shares of company stock valued at $331,705 in the last three months. Company insiders own 0.21% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. raised its holdings in shares of Philip Morris International by 4.7% in the 4th quarter. Advisors Asset Management Inc. now owns 302,063 shares of the company’s stock valued at $20,166,000 after buying an additional 13,544 shares during the period. Trust Co. of Virginia VA increased its holdings in Philip Morris International by 175.1% during the 4th quarter. Trust Co. of Virginia VA now owns 54,827 shares of the company’s stock worth $3,660,000 after purchasing an additional 34,896 shares during the period. Wiley BROS. Aintree Capital LLC purchased a new stake in Philip Morris International during the 4th quarter worth about $244,000. Jennison Associates LLC increased its holdings in Philip Morris International by 14.3% during the 4th quarter. Jennison Associates LLC now owns 244,451 shares of the company’s stock worth $16,320,000 after purchasing an additional 30,506 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in Philip Morris International by 0.3% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 204,152 shares of the company’s stock worth $13,629,000 after purchasing an additional 568 shares during the period. 73.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PM opened at $80.12 on Tuesday. The company’s 50-day moving average is $79.93. The firm has a market capitalization of $124.65 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 2.02 and a beta of 0.96. Philip Morris International has a 52 week low of $64.67 and a 52 week high of $92.74.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 21st will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.69%. The ex-dividend date of this dividend is Thursday, June 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 89.41%.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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Earnings History and Estimates for Philip Morris International (NYSE:PM)

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