Philip Morris International (PM) Scheduled to Post Quarterly Earnings on Tuesday

Philip Morris International (NYSE:PM - Get Free Report) will issue its quarterly earnings data before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $1.40 per share for the quarter. Philip Morris International has set its FY24 guidance at $6.43 to $6.55 EPS and its FY 2024 guidance at 6.320-6.440 EPS.Parties interested in listening to the company's conference call can do so using this link.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.08). The company had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $8.99 billion. Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $1.39 earnings per share. On average, analysts expect Philip Morris International to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Philip Morris International Stock Up 1.0 %

Shares of PM stock traded up $0.90 during trading on Tuesday, hitting $89.50. The company had a trading volume of 4,617,301 shares, compared to its average volume of 5,504,728. The stock's 50-day moving average is $91.09 and its two-hundred day moving average is $92.03. The stock has a market capitalization of $139.13 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 2.01 and a beta of 0.61. Philip Morris International has a 52 week low of $87.23 and a 52 week high of $101.92.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International's payout ratio is currently 103.59%.

Insiders Place Their Bets

In other news, VP Reginaldo Dobrowolski sold 2,000 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total transaction of $181,380.00. Following the completion of the sale, the vice president now owns 9,726 shares of the company's stock, valued at approximately $882,050.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of the company's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $93.63, for a total value of $772,447.50. Following the completion of the transaction, the insider now directly owns 94,629 shares in the company, valued at approximately $8,860,113.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total value of $181,380.00. Following the completion of the transaction, the vice president now owns 9,726 shares of the company's stock, valued at $882,050.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,250 shares of company stock valued at $1,411,128. 0.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Doheny Asset Management CA purchased a new stake in Philip Morris International during the 1st quarter valued at $200,000. Retirement Group LLC raised its holdings in Philip Morris International by 620.4% during the 4th quarter. Retirement Group LLC now owns 1,203 shares of the company's stock valued at $122,000 after buying an additional 1,036 shares during the period. Point72 Europe London LLP purchased a new stake in Philip Morris International during the 4th quarter valued at $103,000. GeoWealth Management LLC purchased a new stake in Philip Morris International in the first quarter worth $94,000. Finally, O Dell Group LLC purchased a new stake in Philip Morris International in the fourth quarter worth $82,000. 78.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on PM. Argus reiterated a "hold" rating on shares of Philip Morris International in a research report on Tuesday, March 5th. Societe Generale raised Philip Morris International from a "sell" rating to a "hold" rating and set a $87.50 price objective for the company in a research note on Tuesday, February 13th. Finally, UBS Group lowered Philip Morris International from a "buy" rating to a "sell" rating and dropped their price objective for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $105.40.

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.