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.
PM traded down $0.65 on Thursday, hitting $78.45. 170,141 shares of the company traded hands, compared to its average volume of 7,173,819. The company has a 50 day moving average of $74.58 and a 200-day moving average of $80.82. The stock has a market capitalization of $121.40 billion, a PE ratio of 15.41, a PEG ratio of 1.91 and a beta of 1.00. Philip Morris International has a 12-month low of $64.67 and a 12-month high of $92.74.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, October 17th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.07. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The firm had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the prior year, the business earned $1.44 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. Equities analysts expect that Philip Morris International will post 5.2 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th were given a dividend of $1.17 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.14. The ex-dividend date was Tuesday, September 24th. This represents a $4.68 annualized dividend and a yield of 5.97%. Philip Morris International’s payout ratio is presently 91.76%.
PM has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on Philip Morris International from $94.00 to $86.00 and set an overweight rating on the stock in a research report on Friday, July 12th. Bank of America upgraded Philip Morris International from a neutral rating to a buy rating and set a $96.00 target price on the stock in a research report on Tuesday, October 1st. Cowen reiterated a hold rating on shares of Philip Morris International in a research report on Thursday, September 12th. Barclays upgraded Philip Morris International from an equal weight rating to an overweight rating and boosted their target price for the stock from $82.00 to $100.00 in a research report on Friday, July 19th. Finally, Citigroup dropped their target price on Philip Morris International from $110.00 to $90.00 and set a buy rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $92.67.
In related news, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total value of $96,162.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.21% of the company’s stock.
About Philip Morris International
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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