|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||80.05 - 84.43|
|52 Week Range||76.21 - 120.00|
|PE Ratio (TTM)||21.86|
|Earnings Date||Oct 18, 2018|
|Forward Dividend & Yield||4.56 (5.52%)|
|1y Target Est||98.71|
Yahoo Finance's Alexis Christoforous and Jared Blikre break down the latest market action after Philip Morris reported second quarter net income and revenue that beat Wall Street expectations.
Philip Morris International (PM) has tumbled more than 20% year to date, but now is not the time for bargain hunters to wade into the shares, argues Cowen & Co. Analyst Vivien Azer downgraded the shares to Market Perform from Outperform, and lowered her target to $85 from $99, writing that even with the reduced guidance, a lack of visibility about the potential for increasing declines in markets like Japan and South Korea–major drivers of the company's sales–gives her "pause." Azer writes that she has long been upbeat about Philip Morris's iQos electronic tobacco products, and even with the decreased outlook, she still thinks that the technology is promising for the company's future. "The challenge for us is that even by going below management's guidance we have little way of knowing whether Japan will deteriorate even more...or whether South Korea will decelerate further," she writes.
Wall Street analysts expect Philip Morris International (PM) to post revenues of $30.14 billion in the next four quarters, which represents a fall of 0.8% from $30.39 billion in the corresponding four quarters of the previous year. Philip Morris’s management has lowered its currency-neutral net revenue growth for 2018 to be 3.0%–4.0% from an earlier estimate of 8.0%. The downward revision of the sales forecast of iQOS and heated tobacco unit shipments in Japan, as well as shifting the affiliate in Argentina to highly inflationary accounting, led to the reduction of its sales growth guidance.
Philip Morris' earnings report was accompanied with a downward revision to its earnings guidance, which is clearly disappointing to investors, Azer said in the downgrade note. Sequential share losses in Japan in the third and fourth quarter are projected at 40 basis points versus 30-basis point losses in the second quarter.
Philip Morris International (PM) reported its second-quarter earnings before the market opened on July 19. The company posted adjusted EPS of $1.41 on revenues of $7.73 billion. Compared to the second quarter of 2017, the company’s revenues grew 11.7%, while its EPS increased 23.7%.
The tobacco giant was once again done in by a product meant to one day replace cigarettes. Although Philip Morris handily beat analysts’ earnings estimates for the second quarter, the company cut full-year guidance due to anticipated weakness in what it calls reduced-risk products, primarily its IQOS smokeless-tobacco technology. The reason is that the nature of Philip Morris as an investment has changed.
The following are the top stories on the business pages of British newspapers. Two former City traders have been given jail terms after being convicted of attempting to manipulate the European Union's equivalent of Libor in an effort to boost their profits. Britain crashing out of the European Union without a deal would inflict significant economic pain across Europe, leaving the region without any winners, the International Monetary Fund has warned.
Stocks that moved substantially or traded heavily Thursday: eBay Inc., down $3.84 to $34.11 The online marketplace's revenue fell short of Wall Street forecasts. American Express Co., down $2.81 to $100.17 ...
Philip Morris International (PM) reported its second-quarter results today. Its adjusted EPS of $1.41 beat analysts’ estimate of $1.23, and the company beat analysts’ revenue estimate of $7.56 billion by posting revenue of $7.73 billion.
Inc. lowered its forecast on earnings and sales as the company faces weaker-than-expected global demand for its cigarette-alternative IQOS device. The maker of Marlboro cigarettes lowered its full-year profit guidance to between $5.02 and $5.12 a share, from its prior forecast of $5.25 and $5.40, taking into account the costs of its product and marketing initiatives in markets such as Japan. Philip Morris, which introduced IQOS smoke-free electronic cigarettes first in Japan, has reduced inventory in that country as consumer demand has been below forecasts.
Shares of Philip Morris International (PM) are falling on Thursday, following its second-quarter earnings report. The tobacco giant earned $1.41 a share on revenue of $7.73 billion. Philip Morris lowered full-year guidance, and now expects EPS of $5.02 to $5.12, down from its previous forecast of $5.15 to $5.30.
Philip Morris’ guidance for the full year of 2018 includes earnings per share increasing between 8% and 10%. This is a drop from the company’s previous outlook for the year, which had earnings per share increasing by 8% to 11%. Earnings per share for reported by Philip Morris for the full year of 2017 was $4.72.
Philip Morris' (PM) second-quarter 2018 results improve year-on-year on account of strong performance of heated tobacco products.
Global cigarette manufacturer Philip Morris International Inc. (NYSE: PM), best known for its iconic Marlboro brand, had its genesis in a cigarette and tobacco shop opened in London by Mr. Philip Morris in 1847. Although you might think that all the secrets of the major tobacco companies have long been exposed, the following are four interesting and surprising facts about Philip Morris and its Marlboro cigarettes. 1. Most people are aware that cigarette taxes are among the most severe sin taxes levied anywhere on anything, but it's doubtful that many people really understand the heavy tax burden faced by tobacco companies.
U.S. stocks opened lower Thursday, with the Dow Jones Industrial Average on the verge of ending a multisession rally as investors focused on quarterly earnings and fresh developments in disputes between the U.S. and its global trade partners. The Dow (DJIA) was down nearly 60 points, or 0.2%, at 25,140, the S&P 500 index (SPX) was off 0.2% at 2,810, with a decline of at least 0.4% in financials and consumer-staples sectors. The technology-laden Nasdaq Composite Index was down 0.1% at 7,846, but not far off its record high set on Tuesday.
The tobacco company’s earnings rose 23% from a year earlier to $2.2 billion, or $1.41 a share, as revenue rose 12% to $7.7 billion.
There is no reason to expect that layoffs will accelerate." The data confirms, once again, that the yield curve, though flattening, is not signaling a weakening economy. In fact, argues Standard Chartered Bank strategist Steve Englander, the yield curve might simply be following the labor market. Englander explains that the yield curve is simply a reflection of the U.S. economy.
The world’s biggest cigarette company has come under fire for offering “smoke-free” tobacco products to NHS staff to mark the 70th birthday of the health service. Philip Morris International, which makes Marlboro and a host of other big-selling brands, sent a letter to all NHS trusts and the health secretary, Matt Hancock, offering to help doctors, nurses and other health workers give up smoking by using its cigarette alternatives. The devices heat up tobacco rather than burning it but still contain all of the same poisons and addictive chemicals as normal cigarettes.