Philip Morris International (NYSE:PM) Updates FY19 Earnings Guidance

Philip Morris International (NYSE:PM) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.14 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.15. Philip Morris International also updated its FY 2019 guidance to $5.14-5.14 EPS.

Shares of NYSE PM opened at $88.73 on Friday. The company has a market cap of $138.05 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 2.22 and a beta of 0.96. Philip Morris International has a 12-month low of $64.67 and a 12-month high of $92.74. The business has a 50 day moving average of $79.17.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.13. The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.42 billion. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business posted $1.41 EPS. Equities research analysts expect that Philip Morris International will post 5.24 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 21st were issued a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 5.14%. The ex-dividend date was Thursday, June 20th. Philip Morris International’s dividend payout ratio (DPR) is 89.41%.

Several analysts recently issued reports on PM shares. Barclays raised their price target on from $65.00 to $100.00 and gave the stock an overweight rating in a report on Friday. Bank of America set a $120.00 price target on Walmart and gave the stock a buy rating in a report on Friday, May 17th. Citigroup raised their price target on Philip Morris International from $90.00 to $102.00 and gave the stock a buy rating in a report on Monday, March 25th. ValuEngine downgraded United Rentals from a sell rating to a strong sell rating in a report on Thursday. Finally, Morgan Stanley set a $207.00 target price on Alibaba Group and gave the company a buy rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $93.00.

In other news, Director Louis C. Camilleri sold 70,000 shares of Philip Morris International stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mario Masseroli sold 1,200 shares of Philip Morris International stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $84.32, for a total value of $101,184.00. The disclosure for this sale can be found here. Insiders have acquired a total of 4,000 shares of company stock worth $331,705 in the last ninety days. 0.21% of the stock is owned by company insiders.

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

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