Philip Morris International (NYSE:PM – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 6.450-6.510 for the period, compared to the consensus earnings per share estimate of 6.410. The company issued revenue guidance of -. Philip Morris International also updated its FY24 guidance to $6.45-6.51 EPS.
Philip Morris International Price Performance
PM stock opened at $118.98 on Tuesday. The stock has a market capitalization of $184.96 billion, a P/E ratio of 23.24, a P/E/G ratio of 2.35 and a beta of 0.55. Philip Morris International has a 1-year low of $87.23 and a 1-year high of $128.22. The business has a fifty day moving average price of $121.41 and a 200-day moving average price of $108.83.
Philip Morris International (NYSE:PM – Get Free Report) last issued its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. Philip Morris International’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 EPS. As a group, analysts anticipate that Philip Morris International will post 6.45 earnings per share for the current year.
Philip Morris International Increases Dividend
Analysts Set New Price Targets
PM has been the subject of a number of research reports. Bank of America boosted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. The Goldman Sachs Group upped their price objective on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Barclays raised their target price on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, UBS Group dropped their price objective on shares of Philip Morris International from $105.00 to $103.00 and set a “sell” rating on the stock in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.95.
Check Out Our Latest Analysis on Philip Morris International
Insider Buying and Selling at Philip Morris International
In other news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the sale, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.
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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