Jefferies Financial Group Weighs in on Philip Morris International Inc.’s Q2 2019 Earnings (PM)

Philip Morris International Inc. (NYSE:PM) – Analysts at Jefferies Financial Group issued their Q2 2019 earnings per share estimates for shares of Philip Morris International in a note issued to investors on Friday, May 17th. Jefferies Financial Group analyst O. Bennett forecasts that the company will post earnings of $1.32 per share for the quarter. Jefferies Financial Group has a “Hold” rating and a $80.00 price objective on the stock. Jefferies Financial Group also issued estimates for Philip Morris International’s Q3 2019 earnings at $1.44 EPS, Q4 2019 earnings at $1.27 EPS, FY2020 earnings at $5.44 EPS, FY2021 earnings at $5.80 EPS, FY2022 earnings at $5.98 EPS and FY2023 earnings at $6.32 EPS.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, April 18th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.10. Philip Morris International had a net margin of 9.74% and a negative return on equity of 78.74%. The firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same period last year, the firm posted $1.00 EPS. The firm’s quarterly revenue was down 2.1% on a year-over-year basis.



Several other brokerages also recently issued reports on PM. Citigroup lifted their price target on shares of Philip Morris International from $90.00 to $102.00 and gave the company a “buy” rating in a report on Monday, March 25th. ValuEngine raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Bank of America reaffirmed a “sell” rating and issued a $74.00 target price on shares of Philip Morris International in a research note on Tuesday, March 26th. Zacks Investment Research downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Finally, UBS Group raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $86.00 to $101.00 in a research note on Wednesday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $93.38.

Shares of PM stock opened at $86.23 on Monday. Philip Morris International has a 12-month low of $64.67 and a 12-month high of $92.74. The stock has a market cap of $135.06 billion, a P/E ratio of 16.91, a PEG ratio of 2.18 and a beta of 0.93.

In other news, CEO Andre Calantzopoulos sold 50,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $84.76, for a total transaction of $4,238,000.00. Following the completion of the sale, the chief executive officer now owns 844,901 shares in the company, valued at approximately $71,613,808.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Louis C. Camilleri sold 70,000 shares of Philip Morris International stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $83.54, for a total transaction of $5,847,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,200 shares of company stock valued at $10,186,984. Insiders own 0.21% of the company’s stock.

Large investors have recently modified their holdings of the company. Essex Investment Management Co. LLC acquired a new position in Philip Morris International during the fourth quarter valued at approximately $27,000. Transamerica Financial Advisors Inc. grew its holdings in Philip Morris International by 552.8% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 470 shares of the company’s stock valued at $32,000 after purchasing an additional 398 shares during the period. Penserra Capital Management LLC acquired a new position in Philip Morris International during the first quarter valued at approximately $36,000. Clean Yield Group acquired a new position in Philip Morris International during the fourth quarter valued at approximately $37,000. Finally, Claybrook Capital LLC acquired a new position in Philip Morris International during the fourth quarter valued at approximately $39,000. Institutional investors own 73.18% of the company’s stock.

Philip Morris International Company Profile

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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Earnings History and Estimates for Philip Morris International (NYSE:PM)

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