$7.79 Billion in Sales Expected for Philip Morris International Inc. (NYSE:PM) This Quarter

Equities analysts expect Philip Morris International Inc. (NYSE:PM) to report $7.79 billion in sales for the current quarter, according to Zacks. Four analysts have made estimates for Philip Morris International’s earnings. The lowest sales estimate is $7.61 billion and the highest is $7.99 billion. Philip Morris International reported sales of $6.65 billion in the same quarter last year, which would suggest a positive year over year growth rate of 17.1%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, July 20th.

According to Zacks, analysts expect that Philip Morris International will report full-year sales of $31.32 billion for the current year, with estimates ranging from $30.86 billion to $31.57 billion. For the next year, analysts expect that the firm will post sales of $33.03 billion, with estimates ranging from $31.78 billion to $33.93 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Philip Morris International.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Monday, April 19th. The company reported $1.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.17. The business had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.33 billion. Philip Morris International had a net margin of 11.20% and a negative return on equity of 85.06%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 EPS.

A number of equities research analysts recently weighed in on PM shares. Zacks Investment Research cut shares of Philip Morris International from a “buy” rating to a “hold” rating and set a $99.00 price target for the company. in a research report on Tuesday, April 27th. Barclays boosted their price target on shares of Philip Morris International from $103.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, April 22nd. JPMorgan Chase & Co. upgraded shares of Philip Morris International from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $81.00 to $105.00 in a research note on Friday, April 9th. Finally, Morgan Stanley lifted their price objective on shares of Philip Morris International from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, May 6th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $100.62.

Shares of Philip Morris International stock traded up $0.80 during trading on Friday, hitting $97.55. 3,055,996 shares of the stock were exchanged, compared to its average volume of 4,534,993. Philip Morris International has a 12-month low of $68.37 and a 12-month high of $98.95. The company has a market cap of $152.04 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.86 and a beta of 0.82. The business’s 50-day simple moving average is $94.95.

In other news, insider Mario Masseroli sold 1,734 shares of the stock in a transaction on Monday, May 10th. The shares were sold at an average price of $98.31, for a total value of $170,469.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Martin G. King sold 21,066 shares of the firm’s stock in a transaction on Tuesday, April 27th. The shares were sold at an average price of $94.51, for a total transaction of $1,990,947.66. The disclosure for this sale can be found here. Insiders sold 43,370 shares of company stock valued at $4,135,557 in the last three months. Company insiders own 0.21% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PM. Lumature Wealth Partners LLC bought a new position in Philip Morris International during the 1st quarter valued at $26,000. Better Money Decisions LLC bought a new stake in Philip Morris International in the 1st quarter valued at about $26,000. Providence Capital Advisors LLC acquired a new position in Philip Morris International during the 1st quarter valued at about $27,000. Sterling Financial Planning Inc. acquired a new position in Philip Morris International during the 4th quarter valued at about $26,000. Finally, Perennial Advisors LLC acquired a new position in Philip Morris International during the 4th quarter valued at about $27,000. 74.83% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Company Profile

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 Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks, and Parliament HeatSticks brands, as well as under the Fiit and Miix licensed brands.

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

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