Equities analysts expect that Philip Morris International Inc. (NYSE:PM) will report $6.91 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Philip Morris International’s earnings, with the lowest sales estimate coming in at $6.75 billion and the highest estimate coming in at $7.07 billion. Philip Morris International posted sales of $6.06 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 14%. The company is expected to announce its next quarterly earnings report on Thursday, April 19th.
On average, analysts expect that Philip Morris International will report full year sales of $6.91 billion for the current fiscal year, with estimates ranging from $31.68 billion to $32.45 billion. For the next financial year, analysts expect that the company will report sales of $34.62 billion per share, with estimates ranging from $32.74 billion to $35.29 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Philip Morris International.
Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, February 8th. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.17 billion. Philip Morris International had a negative return on equity of 71.99% and a net margin of 7.73%. Philip Morris International’s revenue was up 19.0% compared to the same quarter last year. During the same period last year, the business earned $1.10 EPS.
Several equities research analysts have issued reports on PM shares. Jefferies Group raised Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 target price for the company in a research note on Friday, January 19th. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Wells Fargo & Co reissued an “outperform” rating and set a $135.00 target price (down previously from $140.00) on shares of Philip Morris International in a research note on Wednesday, November 15th. Citigroup cut their target price on Philip Morris International from $117.00 to $114.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Finally, Morgan Stanley raised their target price on Philip Morris International from $120.00 to $123.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $123.79.
Philip Morris International (NYSE:PM) traded down $2.59 during mid-day trading on Friday, reaching $104.08. The company’s stock had a trading volume of 4,410,000 shares, compared to its average volume of 5,910,000. The company has a debt-to-equity ratio of -3.06, a quick ratio of 0.80 and a current ratio of 1.35. The firm has a market capitalization of $161,660.00, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.99 and a beta of 0.85. Philip Morris International has a one year low of $96.66 and a one year high of $123.55.
In other news, CEO Andre Calantzopoulos sold 49,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $103.66, for a total transaction of $5,079,340.00. Following the completion of the transaction, the chief executive officer now directly owns 792,765 shares in the company, valued at $82,178,019.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Marc S. Firestone sold 13,650 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $104.63, for a total value of $1,428,199.50. Following the transaction, the insider now owns 189,199 shares of the company’s stock, valued at $19,795,891.37. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Flossbach Von Storch AG boosted its holdings in Philip Morris International by 89.4% in the fourth quarter. Flossbach Von Storch AG now owns 6,612,322 shares of the company’s stock valued at $698,592,000 after purchasing an additional 3,121,247 shares during the period. Vanguard Group Inc. boosted its holdings in Philip Morris International by 2.7% in the second quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock valued at $13,092,759,000 after purchasing an additional 2,972,929 shares during the period. Renaissance Technologies LLC boosted its holdings in Philip Morris International by 93.5% in the fourth quarter. Renaissance Technologies LLC now owns 5,753,131 shares of the company’s stock valued at $607,818,000 after purchasing an additional 2,779,331 shares during the period. BlackRock Inc. boosted its holdings in Philip Morris International by 2.7% in the second quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock valued at $10,781,538,000 after purchasing an additional 2,421,533 shares during the period. Finally, FMR LLC boosted its holdings in Philip Morris International by 12.5% in the second quarter. FMR LLC now owns 20,919,201 shares of the company’s stock valued at $2,456,960,000 after purchasing an additional 2,330,864 shares during the period. Institutional investors and hedge funds own 73.20% of the company’s stock.
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Philip Morris International Company Profile
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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