Philip Morris International (NYSE:PM – Get Free Report) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.770-1.820 for the period, compared to the consensus estimate of 1.770. The company issued revenue guidance of -. Philip Morris International also updated its FY24 guidance to $6.33-6.45 EPS.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Philip Morris International from $110.00 to $118.00 and gave the stock a buy rating in a research note on Wednesday. Stifel Nicolaus upped their target price on shares of Philip Morris International from $115.00 to $120.00 and gave the stock a buy rating in a research report on Wednesday. StockNews.com upgraded shares of Philip Morris International from a hold rating to a buy rating in a research report on Monday. Finally, JPMorgan Chase & Co. upped their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an overweight rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $106.67.
Check Out Our Latest Report on PM
Philip Morris International Stock Up 1.4 %
Philip Morris International (NYSE:PM – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.02. The business had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a net margin of 8.58% and a negative return on equity of 111.24%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.60 earnings per share. Research analysts forecast that Philip Morris International will post 6.37 EPS for the current year.
Philip Morris International Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Friday, June 21st. Philip Morris International’s dividend payout ratio is currently 101.56%.
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.
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