Philip Morris International (NYSE:PM) Issues Earnings Results, Beats Estimates By $0.06 EPS

Philip Morris International (NYSE:PM) released its quarterly earnings data on Wednesday. The company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.06, FiscalAI reports. Philip Morris International had a negative return on equity of 163.41% and a net margin of 11.06%. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $11.32 billion.

Philip Morris International Trading Down 0.6%

NYSE:PM opened at $199.92 on Wednesday. Philip Morris International has a 12 month low of $142.11 and a 12 month high of $210.45. The company has a market cap of $311.60 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 2.58 and a beta of 0.34. The company has a 50 day simple moving average of $191.76 and a two-hundred day simple moving average of $183.18.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Friday, October 2nd will be given a $1.60 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 3.2%. Philip Morris International’s payout ratio is presently 91.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Barclays increased their price objective on Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Needham & Company LLC lifted their price objective on Philip Morris International from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Weiss Ratings raised Philip Morris International from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Stifel Nicolaus boosted their target price on Philip Morris International from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Finally, Morgan Stanley upped their target price on shares of Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $207.00.

Philip Morris International Company Profile

Philip Morris International Inc (NYSE:PM) is a global tobacco and nicotine company headquartered in Stamford, Connecticut. It was established as an independent company in 2008 following the separation of Philip Morris International from Altria Group. The company develops, manufactures and markets tobacco, nicotine and other related consumer products primarily outside the United States.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M, Chesterfield and Bond Street.