Wall Street analysts expect Philip Morris International Inc. (NYSE:PM) to report $7.67 billion in sales for the current 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 $7.55 billion and the highest estimate coming in at $7.78 billion. Philip Morris International posted sales of $7.50 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2.3%. The company is scheduled to issue its next quarterly earnings report on Thursday, October 17th.
According to Zacks, analysts expect that Philip Morris International will report full-year sales of $29.91 billion for the current year, with estimates ranging from $29.58 billion to $30.35 billion. For the next fiscal year, analysts anticipate that the business will post sales of $31.28 billion, with estimates ranging from $30.33 billion to $32.17 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Philip Morris International.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.33 by $0.13. The company 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%. Philip Morris International’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $1.41 EPS.
Several research analysts have commented on PM shares. ValuEngine downgraded Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Wells Fargo & Co set a $102.00 price objective on Philip Morris International and gave the stock a “buy” rating in a report on Friday, July 19th. Morgan Stanley reduced their price objective on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Finally, Barclays raised Philip Morris International from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $82.00 to $100.00 in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $93.92.
PM traded down $0.02 during trading on Monday, hitting $83.04. 1,005,529 shares of the stock were exchanged, compared to its average volume of 4,673,309. The firm has a 50 day simple moving average of $83.45 and a 200 day simple moving average of $83.67. The firm has a market cap of $132.26 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 2.08 and a beta of 0.96. Philip Morris International has a 1 year low of $64.67 and a 1 year high of $92.74.
In related news, VP Michael R. Kunst bought 1,000 shares of the company’s stock in a transaction on Friday, May 31st. The shares were acquired at an average price of $79.66 per share, with a total value of $79,660.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mario Masseroli sold 1,100 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total value of $96,162.00. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in PM. Nuveen Asset Management LLC boosted its position in shares of Philip Morris International by 23,232.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 11,295,814 shares of the company’s stock worth $887,059,000 after purchasing an additional 11,247,401 shares in the last quarter. Invesco Ltd. boosted its position in shares of Philip Morris International by 41.5% in the 2nd quarter. Invesco Ltd. now owns 30,080,523 shares of the company’s stock worth $2,362,224,000 after purchasing an additional 8,824,567 shares in the last quarter. Morgan Stanley boosted its position in shares of Philip Morris International by 16.9% in the 2nd quarter. Morgan Stanley now owns 34,485,714 shares of the company’s stock worth $2,708,164,000 after purchasing an additional 4,998,070 shares in the last quarter. BlackRock Inc. boosted its position in shares of Philip Morris International by 5.1% in the 2nd quarter. BlackRock Inc. now owns 100,831,956 shares of the company’s stock worth $7,918,335,000 after purchasing an additional 4,879,296 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Philip Morris International by 56.3% in the 2nd quarter. AQR Capital Management LLC now owns 4,619,770 shares of the company’s stock worth $360,204,000 after purchasing an additional 1,663,264 shares in the last quarter. 74.33% of the stock is currently 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, 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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