Philip Morris International Inc. (NYSE:PM) issued an update on its FY16 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.53-4.58 for the period, compared to the Thomson Reuters consensus estimate of $4.49.
Shares of Philip Morris International Inc. (NYSE:PM) opened at 97.78 on Friday. The stock has a 50 day moving average of $99.89 and a 200-day moving average of $99.77. The firm has a market capitalization of $151.69 billion, a PE ratio of 23.39 and a beta of 0.97. Philip Morris International Inc. has a 52 week low of $78.41 and a 52 week high of $104.20.
Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 19th. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by $0.05. Philip Morris International had a negative return on equity of 57.28% and a net margin of 8.84%. The business had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.77 billion. During the same period in the previous year, the company posted $1.21 earnings per share. Equities analysts anticipate that Philip Morris International Inc. will post $4.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Wednesday, September 28th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 4.25%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, September 26th. Philip Morris International’s dividend payout ratio is presently 99.52%.
A number of analysts recently issued reports on the company. Zacks Investment Research raised Philip Morris International from a sell rating to a hold rating in a research note on Wednesday, July 20th. Goldman Sachs Group Inc. raised Philip Morris International from a neutral rating to a buy rating and increased their target price for the stock from $106.00 to $114.00 in a research note on Monday, September 12th. Jefferies Group began coverage on Philip Morris International in a research note on Wednesday, September 21st. They set a hold rating and a $96.00 target price for the company. Citigroup Inc. began coverage on shares of Philip Morris International in a research note on Tuesday, September 13th. They set a neutral rating and a $106.00 price target for the company. Finally, Wells Fargo & Co. reaffirmed an outperform rating on shares of Philip Morris International in a research note on Tuesday, July 19th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Philip Morris International presently has an average rating of Buy and an average price target of $104.71.
Large investors have recently bought and sold shares of the company. Analytic Investors LLC increased its stake in Philip Morris International by 661.4% in the second quarter. Analytic Investors LLC now owns 1,407,638 shares of the company’s stock worth $143,185,000 after buying an additional 1,222,768 shares in the last quarter. Teachers Advisors Inc. increased its stake in Philip Morris International by 31.1% in the second quarter. Teachers Advisors Inc. now owns 3,820,475 shares of the company’s stock worth $388,619,000 after buying an additional 907,170 shares in the last quarter. APG Asset Management N.V. increased its stake in Philip Morris International by 18.9% in the second quarter. APG Asset Management N.V. now owns 4,597,273 shares of the company’s stock worth $467,635,000 after buying an additional 731,022 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Philip Morris International by 8.1% in the second quarter. TIAA CREF Investment Management LLC now owns 8,583,827 shares of the company’s stock worth $873,147,000 after buying an additional 644,741 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Philip Morris International by 1.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 27,895,822 shares of the company’s stock worth $2,837,563,000 after buying an additional 514,983 shares in the last quarter. 71.22% of the stock is owned by institutional investors.
About Philip Morris International
Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.
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