Philip Morris International (NYSE:PM) Releases FY 2024 Earnings Guidance

Philip Morris International (NYSE:PM - Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 6.190-6.310 for the period, compared to the consensus EPS estimate of 6.370. The company issued revenue guidance of -. Philip Morris International also updated its FY24 guidance to $6.19-6.31 EPS.

Analyst Ratings Changes

Several research firms recently weighed in on PM. Societe Generale upgraded shares of Philip Morris International from a sell rating to a hold rating and set a $87.50 price target on the stock in a report on Tuesday, February 13th. UBS Group cut shares of Philip Morris International from a buy rating to a sell rating and reduced their price target for the company from $105.00 to $86.50 in a research report on Tuesday, January 23rd. Finally, Argus restated a hold rating on shares of Philip Morris International in a report on Tuesday, March 5th. One 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. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $105.40.

Philip Morris International Trading Up 3.8 %

NYSE:PM traded up $3.60 on Tuesday, reaching $97.66. 13,103,287 shares of the stock traded hands, compared to its average volume of 5,646,268. The company's fifty day simple moving average is $91.29 and its 200 day simple moving average is $92.06. The company has a market capitalization of $151.82 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.96 and a beta of 0.61. Philip Morris International has a 12 month low of $87.23 and a 12 month high of $100.79.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.09. Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The business had revenue of $8.79 billion for the quarter, compared to analysts' expectations of $8.44 billion. During the same period in the prior year, the firm posted $1.38 EPS. The firm's quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts anticipate that Philip Morris International will post 6.38 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.32%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International's dividend payout ratio is currently 103.59%.

Insider Transactions at Philip Morris International

In other news, insider Massimo Andolina sold 8,250 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $93.63, for a total transaction of $772,447.50. Following the transaction, the insider now directly owns 94,629 shares of the company's stock, valued at approximately $8,860,113.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 shares were sold at an average price of $93.63, for a total transaction of $772,447.50. Following the completion of the sale, the insider now directly owns 94,629 shares of the company's stock, valued at $8,860,113.27. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the firm's stock in a transaction 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 directly owns 9,726 shares in the company, valued at $882,050.94. The disclosure for this sale can be found here. Insiders sold 15,250 shares of company stock worth $1,411,128 over the last three months. 0.14% of the stock is currently owned by company insiders.

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.