Analysts expect Philip Morris International Inc. (NYSE:PM) to report sales of $7.56 billion for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Philip Morris International’s earnings. The highest sales estimate is $7.66 billion and the lowest is $7.44 billion. Philip Morris International reported sales of $6.92 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 9.2%. The company is scheduled to issue its next quarterly earnings results before the market opens on Thursday, July 19th.
On average, analysts expect that Philip Morris International will report full year sales of $31.08 billion for the current year, with estimates ranging from $30.76 billion to $31.58 billion. For the next fiscal year, analysts expect that the company will report sales of $33.50 billion per share, with estimates ranging from $32.67 billion to $34.56 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Philip Morris International.
Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, April 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6.90 billion for the quarter, compared to analysts’ expectations of $7.03 billion. During the same quarter last year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year.
A number of equities research analysts recently issued reports on PM shares. Zacks Investment Research cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. Goldman Sachs Group cut shares of Philip Morris International from a “conviction-buy” rating to a “buy” rating in a research note on Friday, April 20th. Bank of America cut shares of Philip Morris International from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $113.00 to $88.00 in a research note on Friday, April 20th. Deutsche Bank started coverage on shares of Philip Morris International in a research note on Tuesday, April 10th. They issued a “buy” rating and a $120.00 price target on the stock. Finally, Stifel Nicolaus dropped their price target on shares of Philip Morris International from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, April 20th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $117.67.
Philip Morris International traded up $0.36, reaching $80.13, during trading on Friday, MarketBeat.com reports. The company had a trading volume of 291,131 shares, compared to its average volume of 7,225,482. Philip Morris International has a 1-year low of $76.21 and a 1-year high of $121.69. The stock has a market capitalization of $124.31 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.59 and a beta of 0.88. The company has a debt-to-equity ratio of -2.82, a quick ratio of 0.68 and a current ratio of 1.16.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 11th. Shareholders of record on Friday, June 22nd will be paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.69%. The ex-dividend date is Thursday, June 21st. This is a boost from Philip Morris International’s previous quarterly dividend of $1.07. Philip Morris International’s payout ratio is 92.49%.
In other news, insider Jerry Whitson purchased 3,000 shares of the stock in a transaction dated Wednesday, April 25th. The shares were purchased at an average price of $82.76 per share, with a total value of $248,280.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Miroslaw Zielinski purchased 6,000 shares of the stock in a transaction dated Friday, April 27th. The shares were purchased at an average cost of $81.56 per share, for a total transaction of $489,360.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 49,000 shares of company stock worth $3,989,640. 0.22% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Philip Morris International by 2.0% in the 4th quarter. BlackRock Inc. now owns 94,653,614 shares of the company’s stock valued at $10,000,154,000 after buying an additional 1,851,721 shares during the period. Bank of New York Mellon Corp raised its holdings in Philip Morris International by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 17,494,845 shares of the company’s stock valued at $1,848,329,000 after buying an additional 266,461 shares during the period. Geode Capital Management LLC raised its holdings in Philip Morris International by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 16,006,215 shares of the company’s stock valued at $1,687,415,000 after buying an additional 423,024 shares during the period. Gardner Russo & Gardner LLC raised its holdings in Philip Morris International by 2.3% in the 1st quarter. Gardner Russo & Gardner LLC now owns 10,380,319 shares of the company’s stock valued at $1,031,804,000 after buying an additional 237,310 shares during the period. Finally, Flossbach Von Storch AG raised its holdings in Philip Morris International by 45.1% in the 1st quarter. Flossbach Von Storch AG now owns 9,594,407 shares of the company’s stock valued at $953,684,000 after buying an additional 2,982,085 shares during the period. 72.27% of the stock is currently owned by hedge funds and other institutional investors.
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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