Equities analysts forecast that Philip Morris International Inc. (NYSE:PM) will announce earnings of $1.56 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Philip Morris International’s earnings, with the lowest EPS estimate coming in at $1.52 and the highest estimate coming in at $1.61. Philip Morris International posted earnings of $1.42 per share during the same quarter last year, which indicates a positive year over year growth rate of 9.9%. The business is expected to announce its next quarterly earnings report before the market opens on Tuesday, October 19th.
According to Zacks, analysts expect that Philip Morris International will report full year earnings of $6.09 per share for the current financial year, with EPS estimates ranging from $6.05 to $6.14. For the next year, analysts anticipate that the company will post earnings of $6.67 per share, with EPS estimates ranging from $6.40 to $6.97. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Philip Morris International.
Philip Morris International (NYSE:PM) last announced its earnings results on Monday, July 19th. The company reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.02. Philip Morris International had a negative return on equity of 91.56% and a net margin of 11.13%. The business had revenue of $7.84 billion during the quarter, compared to analyst estimates of $7.71 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year.
NYSE:PM traded down $3.81 on Tuesday, reaching $98.70. The stock had a trading volume of 209,264 shares, compared to its average volume of 4,411,671. Philip Morris International has a 12-month low of $68.93 and a 12-month high of $106.51. The company has a 50-day moving average of $101.27 and a 200 day moving average of $97.38. The stock has a market cap of $153.83 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84.
Philip Morris International declared that its Board of Directors has initiated a stock repurchase program on Friday, June 11th that permits the company to repurchase $7.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 14th. Investors of record on Wednesday, September 29th will be paid a $1.25 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date is Tuesday, September 28th. Philip Morris International’s payout ratio is currently 92.84%.
In other Philip Morris International news, CEO Martin G. King sold 21,725 shares of the company’s stock in a transaction on Tuesday, July 27th. The shares were sold at an average price of $100.18, for a total value of $2,176,410.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Philip Morris International by 1.0% during the second quarter. Vanguard Group Inc. now owns 124,832,982 shares of the company’s stock valued at $12,372,196,000 after acquiring an additional 1,269,844 shares during the period. BlackRock Inc. lifted its holdings in Philip Morris International by 1.5% during the second quarter. BlackRock Inc. now owns 91,393,456 shares of the company’s stock worth $9,058,006,000 after acquiring an additional 1,318,842 shares during the period. Capital International Investors grew its holdings in shares of Philip Morris International by 6.6% during the second quarter. Capital International Investors now owns 74,551,934 shares of the company’s stock worth $7,388,259,000 after purchasing an additional 4,609,738 shares in the last quarter. State Street Corp raised its position in shares of Philip Morris International by 1.4% in the 2nd quarter. State Street Corp now owns 54,455,514 shares of the company’s stock worth $5,461,957,000 after acquiring an additional 765,685 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Philip Morris International by 0.3% during the second quarter. Morgan Stanley now owns 44,718,495 shares of the company’s stock valued at $4,432,049,000 after acquiring an additional 120,060 shares during the period. 75.05% of the stock is owned by institutional investors.
About Philip Morris International
Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.
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