Zacks: Analysts Anticipate Philip Morris International Inc. (NYSE:PM) Will Announce Earnings of $1.35 Per Share

Brokerages expect that Philip Morris International Inc. (NYSE:PM) will post earnings of $1.35 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Philip Morris International’s earnings, with the lowest EPS estimate coming in at $1.33 and the highest estimate coming in at $1.38. Philip Morris International posted earnings of $1.44 per share during the same quarter last year, which would indicate a negative year over year growth rate of 6.2%. The firm is expected to issue its next earnings report before the market opens on Thursday, October 17th.

On average, analysts expect that Philip Morris International will report full year earnings of $5.20 per share for the current fiscal year, with EPS estimates ranging from $5.13 to $5.30. For the next year, analysts anticipate that the firm will post earnings of $5.60 per share, with EPS estimates ranging from $5.40 to $5.77. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Philip Morris International.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.13. The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.42 billion. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 earnings per share.

PM has been the topic of a number of recent research reports. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. set a $86.00 target price on Philip Morris International and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Wells Fargo & Co set a $102.00 target price on Philip Morris International and gave the stock a “buy” rating in a research note on Monday, August 26th. Citigroup reissued a “buy” rating on shares of Philip Morris International in a research note on Wednesday, September 4th. Finally, Morgan Stanley cut their target price on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $93.77.

In other news, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total transaction of $96,162.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Several large investors have recently made changes to their positions in PM. Investec Asset Management PTY Ltd lifted its holdings in Philip Morris International by 2.1% in the first quarter. Investec Asset Management PTY Ltd now owns 11,033 shares of the company’s stock valued at $975,000 after acquiring an additional 229 shares during the period. Investec Asset Management LTD lifted its holdings in Philip Morris International by 7.4% in the first quarter. Investec Asset Management LTD now owns 3,833,344 shares of the company’s stock valued at $338,829,000 after acquiring an additional 264,939 shares during the period. Schulhoff & Co. Inc. bought a new position in Philip Morris International in the first quarter valued at about $377,000. Investec Asset Management North America Inc. lifted its holdings in Philip Morris International by 17.3% in the first quarter. Investec Asset Management North America Inc. now owns 33,597 shares of the company’s stock valued at $2,970,000 after acquiring an additional 4,967 shares during the period. Finally, Exane Derivatives lifted its holdings in Philip Morris International by 17.2% in the first quarter. Exane Derivatives now owns 47,367 shares of the company’s stock valued at $4,186,000 after acquiring an additional 6,955 shares during the period. 74.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE PM traded down $1.85 during trading on Friday, reaching $73.05. The company had a trading volume of 9,003,272 shares, compared to its average volume of 8,294,194. Philip Morris International has a 12-month low of $64.67 and a 12-month high of $92.74. The stock has a market cap of $116.53 billion, a PE ratio of 14.32, a P/E/G ratio of 1.83 and a beta of 0.99. The business’s 50-day moving average is $79.88 and its 200 day moving average is $83.00.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 25th will be paid a $1.17 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.14. This represents a $4.68 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date is Tuesday, September 24th. Philip Morris International’s dividend payout ratio is currently 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.

Recommended Story: How is a buy-side analyst different from a sell-side analyst?

Get a free copy of the Zacks research report on Philip Morris International (PM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.