Brokerages expect Philip Morris International Inc. (NYSE:PM) to post $7.37 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Philip Morris International’s earnings, Fairfield Current reported.
The highest sales estimate is $7.52 billion and the lowest is $7.21 billion. Philip Morris International reported sales of $8.29 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 11.1%. The company is expected to report its next earnings results on Thursday, February 14th.
According to Zacks, analysts expect that Philip Morris International will report full-year sales of $29.47 billion for the current fiscal year, with estimates ranging from $29.24 billion to $29.64 billion. For the next financial year, analysts forecast that the firm will post sales of $30.08 billion, with estimates ranging from $29.57 billion to $30.88 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Philip Morris International.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, October 18th. The company reported $1.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.16. Philip Morris International had a negative return on equity of 78.80% and a net margin of 8.20%. The firm had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.16 billion. During the same quarter in the previous year, the company earned $1.27 earnings per share. The firm’s quarterly revenue was up .4% compared to the same quarter last year.
PM has been the topic of several research reports. Argus raised Philip Morris International from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Wednesday, July 25th. ValuEngine raised Philip Morris International from a “strong sell” rating to a “sell” rating in a report on Monday, July 30th. Jefferies Financial Group cut Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock in a report on Friday, August 24th.
Citigroup upped their price target on Philip Morris International from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 21st. Finally, Zacks Investment Research cut Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, September 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Philip Morris International has an average rating of “Hold” and a consensus price target of $94.73.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Shine Investment Advisory Services Inc. grew its position in Philip Morris International by 90.7% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock worth $101,000 after purchasing an additional 592 shares in the last quarter. Landaas & Co. WI ADV purchased a new position in Philip Morris International during the 2nd quarter worth approximately $106,000.
Bay Colony Advisory Group Inc and Bay Colony Advisors purchased a new position in Philip Morris International during the 2nd quarter worth approximately $108,000. BerganKDV Wealth Management LLC purchased a new position in Philip Morris International during the 2nd quarter worth approximately $123,000. Finally, Vectors Research Management LLC purchased a new position in Philip Morris International during the 3rd quarter worth approximately $128,000. 72.31% of the stock is currently owned by institutional investors.
NYSE:PM traded down $2.60 during midday trading on Friday, hitting $83.95. 5,915,661 shares of the stock were exchanged, compared to its average volume of 6,201,361. Philip Morris International has a one year low of $76.21 and a one year high of $111.25. The stock has a market cap of $134.54 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.98 and a beta of 0.58.