Philip Morris (PM) Increases Yet Falls Behind Market: What Investors Need to Know
The latest trading session saw Philip Morris (PM) ending at $92.43, denoting a +0.12% adjustment from its last day's close. The stock lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow experienced a rise of 0.36%, and the technology-dominated Nasdaq saw an increase of 0.32%.
Coming into today, shares of the seller of Marlboro and other cigarette brands had lost 0.67% in the past month. In that same time, the Consumer Staples sector gained 3.22%, while the S&P 500 gained 1.61%.
The investment community will be closely monitoring the performance of Philip Morris in its forthcoming earnings report. The company is scheduled to release its earnings on February 8, 2024. The company is forecasted to report an EPS of $1.44, showcasing a 3.6% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $8.92 billion, up 9.45% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Philip Morris. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.27% fall in the Zacks Consensus EPS estimate. Philip Morris presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Philip Morris is currently trading at a Forward P/E ratio of 14.19. This denotes a premium relative to the industry's average Forward P/E of 8.86.
Meanwhile, PM's PEG ratio is currently 2.53. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. PM's industry had an average PEG ratio of 1.85 as of yesterday's close.
The Tobacco industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Philip Morris International Inc. (PM) : Free Stock Analysis Report
