What to Watch For in Philip Morris Earnings Thursday
Philip Morris is scheduled to release its most recent quarterly results before the markets open on Thursday.
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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%.
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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.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
