Philip Morris International (NYSE:PM) Updates FY19 Earnings Guidance

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Philip Morris International (NYSE:PM) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.14 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.21. Philip Morris International also updated its FY 2019 guidance to $4.73 EPS.

Philip Morris International stock traded up $1.43 during mid-day trading on Friday, reaching $81.28. The company’s stock had a trading volume of 37,515 shares, compared to its average volume of 6,989,917. The firm has a market cap of $121.85 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.92 and a beta of 1.00. The business has a 50 day moving average price of $74.70 and a 200-day moving average price of $80.77. Philip Morris International has a twelve month low of $64.67 and a twelve month high of $92.74.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, October 17th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. The firm had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.65 billion. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.44 earnings per share. As a group, research analysts expect that Philip Morris International will post 5.2 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th were issued a $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date was Tuesday, September 24th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.14. Philip Morris International’s payout ratio is currently 91.76%.

A number of equities analysts have commented on PM shares. ValuEngine downgraded shares of Philip Morris International from a hold rating to a sell rating in a report on Thursday, August 1st. Credit Suisse Group set a $80.00 price objective on shares of Philip Morris International and gave the stock a sell rating in a report on Wednesday, August 28th. Wells Fargo & Co set a $102.00 price objective on shares of Philip Morris International and gave the stock a buy rating in a report on Monday, August 26th. Cowen reiterated a hold rating on shares of Philip Morris International in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. set a $86.00 target price on Philip Morris International and gave the company a neutral rating in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $92.67.

In related news, insider Mario Masseroli sold 1,100 shares of Philip Morris International stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total transaction of $96,162.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by insiders.

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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Earnings History and Estimates for Philip Morris International (NYSE:PM)

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