Zacks: Analysts Anticipate Philip Morris International Inc. (NYSE:PM) to Post $1.53 Earnings Per Share

Wall Street analysts expect Philip Morris International Inc. (NYSE:PM) to post earnings of $1.53 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Philip Morris International’s earnings. The highest EPS estimate is $1.57 and the lowest is $1.52. Philip Morris International posted earnings per share of $1.29 in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.6%. The company is scheduled to announce its next quarterly earnings results on Tuesday, July 20th.

On average, analysts expect that Philip Morris International will report full year earnings of $6.08 per share for the current year, with EPS estimates ranging from $6.00 to $6.17. For the next fiscal year, analysts anticipate that the business will report earnings of $6.69 per share, with EPS estimates ranging from $6.40 to $6.98. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that cover Philip Morris International.

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

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

In other news, insider Mario Masseroli sold 1,734 shares of Philip Morris International stock in a transaction on Monday, May 10th. The shares were sold at an average price of $98.31, for a total transaction of $170,469.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Martin G. King sold 21,066 shares of Philip Morris International stock in a transaction on Tuesday, April 27th. The stock was 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. Over the last ninety days, insiders have sold 43,370 shares of company stock valued at $4,135,557. Corporate insiders own 0.21% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Cibc World Markets Corp lifted its position in Philip Morris International by 3,856.2% in the fourth quarter. Cibc World Markets Corp now owns 7,820,069 shares of the company’s stock valued at $647,424,000 after acquiring an additional 7,622,405 shares during the last quarter. Capital International Investors lifted its position in Philip Morris International by 11.2% in the first quarter. Capital International Investors now owns 69,942,196 shares of the company’s stock valued at $6,206,961,000 after acquiring an additional 7,039,559 shares during the last quarter. CIBC World Markets Inc. lifted its position in Philip Morris International by 329.6% in the first quarter. CIBC World Markets Inc. now owns 5,264,805 shares of the company’s stock valued at $467,199,000 after acquiring an additional 4,039,238 shares during the last quarter. FIL Ltd lifted its position in Philip Morris International by 74,956,733.3% in the fourth quarter. FIL Ltd now owns 2,248,705 shares of the company’s stock valued at $186,170,000 after acquiring an additional 2,248,702 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Philip Morris International in the first quarter valued at $195,299,000. 74.83% of the stock is owned by institutional investors and hedge funds.

Philip Morris International stock traded up $0.80 during trading on Thursday, hitting $97.55. The company had a trading volume of 3,055,996 shares, compared to its average volume of 4,534,993. Philip Morris International has a 1-year low of $68.37 and a 1-year high of $98.95. The company has a 50 day simple moving average of $94.95. The stock 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.

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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