Wall Street brokerages expect Philip Morris International Inc. (NYSE:PM) to report sales of $7.38 billion for the current quarter, according to Zacks. Three analysts have provided estimates for Philip Morris International’s earnings, with the highest sales estimate coming in at $7.90 billion and the lowest estimate coming in at $7.02 billion. Philip Morris International reported sales of $7.15 billion in the same quarter last year, which indicates a positive year over year growth rate of 3.2%. The company is expected to report its next earnings results on Tuesday, April 20th.
According to Zacks, analysts expect that Philip Morris International will report full-year sales of $31.56 billion for the current fiscal year, with estimates ranging from $30.79 billion to $32.36 billion. For the next year, analysts expect that the firm will post sales of $32.97 billion, with estimates ranging from $31.39 billion to $34.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Philip Morris International.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, February 4th. The company reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.05. Philip Morris International had a negative return on equity of 78.02% and a net margin of 10.07%. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the previous year, the business posted $1.22 EPS. The company’s revenue for the quarter was down 3.5% on a year-over-year basis.
PM has been the subject of a number of recent research reports. Sanford C. Bernstein initiated coverage on shares of Philip Morris International in a research note on Tuesday, January 19th. They issued a “market perform” rating and a $92.00 price objective for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on shares of Philip Morris International from $100.00 to $105.00 in a report on Friday, January 8th. Piper Sandler boosted their target price on Philip Morris International from $98.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, November 18th. Smith Barney Citigroup reiterated a “” rating and set a $105.00 price target (up previously from $100.00) on shares of Philip Morris International in a research report on Friday, January 8th. Finally, Edward Jones cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 15th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Philip Morris International currently has an average rating of “Buy” and an average price target of $96.00.
In other Philip Morris International news, VP Marian Salzman sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $84.39, for a total transaction of $168,780.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.22% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in PM. Sterling Financial Planning Inc. acquired a new position in Philip Morris International during the fourth quarter worth about $26,000. Perennial Advisors LLC acquired a new stake in Philip Morris International during the 4th quarter worth approximately $27,000. Key Financial Inc acquired a new stake in Philip Morris International during the 4th quarter worth approximately $31,000. Northwest Investment Counselors LLC bought a new stake in Philip Morris International during the 3rd quarter worth approximately $32,000. Finally, Jeppson Wealth Management LLC bought a new stake in shares of Philip Morris International in the third quarter worth $33,000. 74.18% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:PM traded up $0.29 during trading hours on Thursday, hitting $86.79. 109,529 shares of the company traded hands, compared to its average volume of 4,817,546. The firm has a 50-day moving average of $82.77 and a 200 day moving average of $79.34. Philip Morris International has a twelve month low of $56.01 and a twelve month high of $89.18. The stock has a market capitalization of $135.17 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 2.27 and a beta of 0.77.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, 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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