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.
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.
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