Brokerages Anticipate Philip Morris International Inc. (PM) Will Announce Quarterly Sales of $7.41 Billion

Brokerages expect Philip Morris International Inc. (NYSE:PM) to post sales of $7.41 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Philip Morris International’s earnings, with the lowest sales estimate coming in at $6.90 billion and the highest estimate coming in at $7.67 billion. Philip Morris International posted sales of $7.73 billion in the same quarter last year, which suggests a negative year over year growth rate of 4.1%. The firm is scheduled to announce its next earnings results on Thursday, July 18th.

On average, analysts expect that Philip Morris International will report full year sales of $29.73 billion for the current financial year, with estimates ranging from $28.64 billion to $30.37 billion. For the next financial year, analysts anticipate that the firm will post sales of $31.20 billion, with estimates ranging from $30.17 billion to $31.95 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Philip Morris International.

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



A number of brokerages have commented on PM. Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Thursday. Barclays raised shares of Philip Morris International from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $67.00 to $82.00 in a research report on Thursday. Bank of America raised shares of Philip Morris International from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $81.00 to $94.00 in a research report on Friday, May 17th. Societe Generale raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Finally, ValuEngine raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $92.57.

In other news, VP Michael R. Kunst bought 2,500 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were purchased at an average cost of $84.67 per share, with a total value of $211,675.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Louis C. Camilleri sold 70,000 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were 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. 0.21% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in PM. Columbia Asset Management increased its holdings in Philip Morris International by 21.1% in the 1st quarter. Columbia Asset Management now owns 8,060 shares of the company’s stock worth $712,000 after buying an additional 1,407 shares in the last quarter. Ashburton Jersey Ltd increased its holdings in Philip Morris International by 10.3% in the 1st quarter. Ashburton Jersey Ltd now owns 197,849 shares of the company’s stock worth $17,488,000 after buying an additional 18,520 shares in the last quarter. Advisory Services Network LLC increased its holdings in Philip Morris International by 2.2% in the 1st quarter. Advisory Services Network LLC now owns 47,123 shares of the company’s stock worth $4,165,000 after buying an additional 1,022 shares in the last quarter. M Holdings Securities Inc. increased its holdings in Philip Morris International by 9.4% in the 1st quarter. M Holdings Securities Inc. now owns 11,281 shares of the company’s stock worth $997,000 after buying an additional 973 shares in the last quarter. Finally, B. Riley Wealth Management Inc. increased its holdings in Philip Morris International by 33.8% in the 1st quarter. B. Riley Wealth Management Inc. now owns 4,244 shares of the company’s stock worth $375,000 after buying an additional 1,072 shares in the last quarter. 72.87% of the stock is currently owned by hedge funds and other institutional investors.

PM stock traded down $1.60 during trading hours on Friday, reaching $84.64. The stock had a trading volume of 3,283,885 shares, compared to its average volume of 5,504,522. The stock has a market cap of $131.68 billion, a P/E ratio of 16.60, a P/E/G ratio of 2.03 and a beta of 0.93. Philip Morris International has a fifty-two week low of $64.67 and a fifty-two week high of $92.74.

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.

See Also: Why is the Consumer Price Index (CPI) important?

Get a free copy of the Zacks research report on Philip Morris International (PM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.