Companies and Brands
What to Watch For in Philip Morris Earnings Thursday
Published:
Last Updated:
Philip Morris International Inc. (NYSE: PM) is scheduled to release its most recent quarterly results before the markets open on Thursday. The consensus estimates from Thomson Reuters call for $1.27 in earnings per share (EPS) and $7.16 billion in revenue. The same period of last year reportedly had $1.27 in EPS and $7.47 billion in revenue.
In its previous quarter, the company issued guidance for the full year, calling for EPS in the range of $5.02 to $5.12. Consensus estimates are calling for $5.02 EPS and $29.25 billion in revenue.
Also in that report, the company noted cigarette and heated tobacco unit shipment volume of 201.7 billion, an increase of 0.9%, or 0.6% excluding the net impact of total estimated inventory movements. This includes cigarette shipment volume of 190.7 billion units, down by 2.8 billion units or 1.5%, and heated tobacco unit shipment volume of 11.0 billion units, up by 4.6 billion units, or 73.0%.
Excluding Wednesday’s move, Philip Morris has underperformed the broad markets, with the stock down 26% in the past 52 weeks. In just 2018 alone, the stock is down 21%.
A few analysts weighed in on Philip Morris ahead of the report:
- Sanford Bernstein rates it as Outperform with a $97 price target.
- Piper Jaffray has a Buy rating with a $99 price target.
- Citigroup has a Buy rating with a $95 price target.
- Jefferies has a Hold rating and an $80 price target.
- Argus has a Buy rating with a $91 price target.
- Societe Generale has a Hold rating.
- JPMorgan has a Neutral rating.
Shares of Philip Morris were last seen up 1% at $84.60 on Wednesday, with a consensus analyst price target of $92.00 and a 52-week trading range of $76.21 to $112.89.
24/7 Wall St.Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
