Philip Morris International (NYSE:PM – Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09, Briefing.com reports. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the prior year, the business posted $1.67 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Philip Morris International updated its FY 2024 guidance to 6.450-6.510 EPS and its FY24 guidance to $6.45-6.51 EPS.
Philip Morris International Trading Up 1.0 %
PM stock traded up $1.30 during mid-day trading on Thursday, hitting $132.71. 226,554 shares of the company were exchanged, compared to its average volume of 5,350,017. The business has a 50 day simple moving average of $121.97 and a 200-day simple moving average of $109.28. The stock has a market capitalization of $206.31 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. Philip Morris International has a 1-year low of $87.23 and a 1-year high of $132.86.
Philip Morris International Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.07%. Philip Morris International’s dividend payout ratio (DPR) is 105.47%.
Analysts Set New Price Targets
View Our Latest Stock Analysis on Philip Morris International
Insiders Place Their Bets
In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.
About Philip Morris International
Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.
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