Philip Morris International (NYSE:PM) Updates FY20 Earnings Guidance

Philip Morris International (NYSE:PM) issued an update on its FY20 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.00-5.07 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.07. Philip Morris International also updated its FY 2020
Pre-Market guidance to 5.00-5.07 EPS.

PM opened at $81.23 on Friday. The firm has a market cap of $126.50 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 2.44 and a beta of 0.76. Philip Morris International has a fifty-two week low of $56.01 and a fifty-two week high of $90.17. The company’s 50-day moving average price is $78.47 and its 200 day moving average price is $75.08.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, July 21st. The company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.19. Philip Morris International had a net margin of 9.54% and a negative return on equity of 80.24%. The business had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.54 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. The firm’s revenue was down 13.6% on a year-over-year basis. Equities analysts anticipate that Philip Morris International will post 5.06 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, September 24th will be given a dividend of $1.20 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.17. This represents a $4.80 annualized dividend and a yield of 5.91%. The ex-dividend date is Wednesday, September 23rd. Philip Morris International’s dividend payout ratio is 90.17%.

PM has been the topic of several research analyst reports. Citigroup reissued a hold rating and issued a $75.00 price objective on shares of Philip Morris International in a research report on Tuesday, June 30th. ValuEngine lowered shares of Philip Morris International from a hold rating to a sell rating in a research report on Monday, August 3rd. Piper Sandler reissued a buy rating and issued a $98.00 price objective on shares of Philip Morris International in a research report on Tuesday, August 4th. Bank of America upped their price target on shares of Philip Morris International from $90.00 to $92.00 and gave the company a buy rating in a research note on Friday. Finally, Stifel Nicolaus upped their price target on shares of Philip Morris International from $85.00 to $90.00 in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $89.75.

In other Philip Morris International news, Director Louis C. Camilleri sold 75,000 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $77.73, for a total transaction of $5,829,750.00. Corporate insiders own 0.22% of the company’s stock.

About Philip Morris International

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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