Analysts forecast that Philip Morris International (NYSE:PM) will report sales of $7.57 billion for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Philip Morris International’s earnings. The lowest sales estimate is $7.44 billion and the highest is $7.70 billion. Philip Morris International reported sales of $6.92 billion in the same quarter last year, which indicates a positive year over year growth rate of 9.4%. The company is scheduled to announce its next quarterly earnings report on Thursday, July 19th.
On average, analysts expect that Philip Morris International will report full-year sales of $31.34 billion for the current financial year, with estimates ranging from $30.76 billion to $31.93 billion. For the next fiscal year, analysts expect that the company will report sales of $33.59 billion per share, with estimates ranging from $32.98 billion to $34.56 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Philip Morris International.
Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, April 19th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.88 by $0.12. Philip Morris International had a net margin of 7.50% and a negative return on equity of 72.40%. The business had revenue of $6.90 billion for the quarter, compared to the consensus estimate of $7.03 billion. During the same period last year, the company earned $0.98 EPS. The firm’s revenue was up 13.7% compared to the same quarter last year.
Several equities research analysts recently commented on PM shares. Morgan Stanley lifted their target price on shares of Philip Morris International from $120.00 to $123.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Piper Jaffray Companies reiterated a “buy” rating and set a $126.00 target price on shares of Philip Morris International in a research report on Thursday, February 8th. Bank of America cut their target price on shares of Philip Morris International from $115.00 to $113.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. Citigroup upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a report on Wednesday, February 28th. They noted that the move was a valuation call. Finally, TheStreet lowered shares of Philip Morris International from a “b-” rating to a “c+” rating in a report on Tuesday, March 20th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $116.86.
NYSE:PM traded down $1.27 during mid-day trading on Monday, hitting $80.34. 5,008,627 shares of the company’s stock were exchanged, compared to its average volume of 5,924,802. The company has a debt-to-equity ratio of -2.82, a current ratio of 1.16 and a quick ratio of 0.68. Philip Morris International has a fifty-two week low of $79.40 and a fifty-two week high of $123.55. The company has a market cap of $126.86 billion, a PE ratio of 16.30, a P/E/G ratio of 1.61 and a beta of 0.88.
In other news, Director Louis C. Camilleri sold 100,000 shares of Philip Morris International stock in a transaction on Friday, May 11th. The shares were sold at an average price of $82.06, for a total value of $8,206,000.00. Following the completion of the sale, the director now owns 660,172 shares in the company, valued at approximately $54,173,714.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jerry Whitson acquired 3,000 shares of the stock in a transaction dated Wednesday, April 25th. The stock was bought at an average price of $82.76 per share, with a total value of $248,280.00. The disclosure for this purchase can be found here. Insiders bought a total of 49,000 shares of company stock valued at $3,989,640 in the last quarter. 0.22% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Flossbach Von Storch AG increased its stake in Philip Morris International by 89.4% during the 4th 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 in the last quarter. Renaissance Technologies LLC increased its stake in Philip Morris International by 93.5% during the 4th 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 in the last quarter. BlackRock Inc. boosted its holdings in Philip Morris International by 2.0% during the 4th quarter. BlackRock Inc. now owns 94,653,614 shares of the company’s stock worth $10,000,154,000 after acquiring an additional 1,851,721 shares during the last quarter. CI Global Investments Inc. purchased a new position in Philip Morris International during the 1st quarter worth $155,793,000. Finally, Janus Henderson Group PLC boosted its holdings in Philip Morris International by 86.2% during the 3rd quarter. Janus Henderson Group PLC now owns 3,328,836 shares of the company’s stock worth $369,538,000 after acquiring an additional 1,541,007 shares during the last quarter. Institutional investors own 72.34% of the company’s stock.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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