Philip Morris International (NYSE:PM) Releases FY24 Earnings Guidance

Philip Morris International (NYSE:PM) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $6.33-6.45 for the period, compared to the consensus EPS estimate of $6.33. Philip Morris International also updated its Q3 2024 guidance to 1.770-1.820 EPS.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $110.00 to $125.00 and gave the company an overweight rating in a research report on Thursday. StockNews.com raised Philip Morris International from a hold rating to a buy rating in a research report on Monday. Bank of America boosted their target price on Philip Morris International from $110.00 to $118.00 and gave the company a buy rating in a research report on Wednesday. Finally, Stifel Nicolaus boosted their target price on Philip Morris International from $115.00 to $120.00 and gave the company a buy rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $106.67.

Philip Morris International Stock Performance

Philip Morris International stock traded up $1.90 during mid-day trading on Thursday, hitting $113.34. The company’s stock had a trading volume of 2,252,523 shares, compared to its average volume of 5,347,037. The company has a 50 day moving average of $102.74 and a 200-day moving average of $96.28. The stock has a market cap of $176.19 billion, a PE ratio of 22.04, a P/E/G ratio of 2.23 and a beta of 0.58. Philip Morris International has a one year low of $87.23 and a one year high of $113.68.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.57 by $0.02. The company had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a negative return on equity of 111.24% and a net margin of 8.58%. Philip Morris International’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.60 EPS. On average, equities research analysts forecast that Philip Morris International will post 6.37 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend was Friday, June 21st. Philip Morris International’s payout ratio is 101.56%.

Philip Morris International Company Profile

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.