Equities analysts predict that Philip Morris International Inc. (NYSE:PM) will announce $7.41 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Philip Morris International’s earnings, with the lowest sales estimate coming in at $6.90 billion and the highest estimate coming in at $7.67 billion. Philip Morris International reported sales of $7.73 billion in the same quarter last year, which indicates a negative year over year growth rate of 4.1%. The firm is expected to issue its next quarterly earnings results on Thursday, July 18th.
On average, analysts expect that Philip Morris International will report full year sales of $29.73 billion for the current financial year, with estimates ranging from $28.64 billion to $30.37 billion. For the next year, analysts forecast that the firm will report sales of $31.20 billion, with estimates ranging from $30.17 billion to $31.95 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Philip Morris International.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, April 18th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.10. The business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.76 billion. Philip Morris International had a net margin of 9.74% and a negative return on equity of 78.74%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 earnings per share.
Several research analysts recently weighed in on the stock. Citigroup upped their price objective on shares of Philip Morris International from $90.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. ValuEngine upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Bank of America restated a “sell” rating and issued a $74.00 price objective on shares of Philip Morris International in a research report on Tuesday, March 26th. Zacks Investment Research cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Finally, UBS Group upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and increased their price target for the company from $86.00 to $101.00 in a research report on Wednesday, February 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Philip Morris International presently has an average rating of “Hold” and a consensus target price of $92.57.
In related news, VP Michael R. Kunst acquired 2,500 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was purchased at an average price of $84.67 per share, with a total value of $211,675.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mario Masseroli sold 1,200 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $84.32, for a total value of $101,184.00. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in PM. Columbia Asset Management increased its stake in Philip Morris International by 21.1% in the 1st quarter. Columbia Asset Management now owns 8,060 shares of the company’s stock worth $712,000 after acquiring an additional 1,407 shares during the last quarter. Ashburton Jersey Ltd increased its stake in Philip Morris International by 10.3% in the 1st quarter. Ashburton Jersey Ltd now owns 197,849 shares of the company’s stock worth $17,488,000 after acquiring an additional 18,520 shares during the last quarter. Advisory Services Network LLC increased its stake in Philip Morris International by 2.2% in the 1st quarter. Advisory Services Network LLC now owns 47,123 shares of the company’s stock worth $4,165,000 after acquiring an additional 1,022 shares during the last quarter. M Holdings Securities Inc. increased its stake in Philip Morris International by 9.4% in the 1st quarter. M Holdings Securities Inc. now owns 11,281 shares of the company’s stock worth $997,000 after acquiring an additional 973 shares during the last quarter. Finally, B. Riley Wealth Management Inc. increased its stake in Philip Morris International by 33.8% in the 1st quarter. B. Riley Wealth Management Inc. now owns 4,244 shares of the company’s stock worth $375,000 after acquiring an additional 1,072 shares during the last quarter. 72.87% of the stock is owned by hedge funds and other institutional investors.
Shares of PM traded down $1.60 during midday trading on Friday, hitting $84.64. 3,283,885 shares of the company traded hands, compared to its average volume of 5,504,522. Philip Morris International has a one year low of $64.67 and a one year high of $92.74. The stock has a market cap of $131.68 billion, a PE ratio of 16.60, a P/E/G ratio of 2.03 and a beta of 0.93.
Philip Morris International Company Profile
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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