Philip Morris International (NYSE:PM) Updates FY 2021 Earnings Guidance

Philip Morris International (NYSE:PM) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.970-$6.070 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.100. The company issued revenue guidance of -.Philip Morris International also updated its FY21 guidance to $5.76-5.86 EPS.

Shares of NYSE PM traded down $0.29 during midday trading on Thursday, reaching $96.25. The company’s stock had a trading volume of 14,869 shares, compared to its average volume of 4,241,347. The stock has a 50 day moving average price of $98.29. Philip Morris International has a one year low of $68.93 and a one year high of $100.95. The stock has a market capitalization of $150.01 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 1.82 and a beta of 0.83.

Philip Morris International (NYSE:PM) last released its earnings results on Monday, July 19th. The company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.02. Philip Morris International had a net margin of 11.13% and a negative return on equity of 91.56%. The business had revenue of $7.84 billion for the quarter, compared to the consensus estimate of $7.71 billion. During the same period in the previous year, the firm earned $1.29 EPS. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. On average, analysts anticipate that Philip Morris International will post 6.02 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 12th. Stockholders of record on Friday, June 25th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend was Thursday, June 24th. Philip Morris International’s dividend payout ratio (DPR) is currently 92.84%.

Philip Morris International declared that its board has authorized 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 purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

A number of research analysts recently commented on PM shares. Morgan Stanley reaffirmed a buy rating and set a $110.00 price objective on shares of Philip Morris International in a research report on Friday, July 2nd. Piper Sandler boosted their price objective on shares of Philip Morris International from $111.00 to $114.00 and gave the company an overweight rating in a research report on Friday, June 11th. TheStreet raised shares of Philip Morris International from a c+ rating to a b rating in a research report on Tuesday. JPMorgan Chase & Co. raised shares of Philip Morris International from a neutral rating to an overweight rating and boosted their price objective for the company from $81.00 to $105.00 in a research report on Friday, April 9th. Finally, Barclays boosted their price objective 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. 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 an average rating of Buy and a consensus target price of $100.92.

In other Philip Morris International news, CEO Martin G. King sold 21,066 shares of the business’s stock in a transaction on Tuesday, April 27th. The shares were sold at an average price of $94.51, for a total value of $1,990,947.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mario Masseroli sold 1,734 shares of the business’s 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 disclosure for this sale can be found here. Insiders sold a total of 32,800 shares of company stock worth $3,139,017 in the last three months. Insiders own 0.21% of the company’s stock.

Philip Morris International Company Profile

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

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