Philip Morris misses 1Q forecasts, volume continues decline

Anti-smoking campaigners are sceptical of the company’s commitment to phase out cigarettes Joe Raedle  Getty Images

Anti-smoking campaigners are sceptical of the company’s commitment to phase out cigarettes Joe Raedle Getty Images

The institutional investor owned 1,682,534 shares of the company's stock after selling 304,338 shares during the period.

The stock decreased 1.13% or $1.3 during the last trading session, hitting $114.60. Oakbrook Investments LLC raised its stake in Philip Morris International by 34.6% in the third quarter. Highland Capital Management LLC now owns 79,960 shares of the company's stock worth $7,774,000 after buying an additional 300 shares during the last quarter. Philip Morris International shares last traded at $109.98, with a volume of 9,706,808 shares changing hands. BlackRock Institutional Trust Company N.A. now owns 39,355,323 shares of the company's stock worth $3,826,125,000 after buying an additional 163,627 shares during the period.

Image source: Philip Morris International. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share. Financial Advisory Service Inc. increased its stake in Philip Morris International by 0.3% in the third quarter. Following the completion of the sale, the chief executive officer now directly owns 787,671 shares in the company, valued at $80,854,428.15. Has $153.935 Million Stake in Philip Morris International Inc. (NYSE:PM) saw some unusual options trading on Thursday.

David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now. and Philip Morris International wasn't one of them! The stock has a market capitalization of $169.95 billion, a P/E ratio of 24.45 and a beta of 0.94. The company's 50-day moving average price is $112.40 and its 200 day moving average price is $99.25. Foundry Partners LLC's holdings in Philip Morris International were worth $619,000 at the end of the most recent quarter.

Philip Morris shareholders were nervous about the news, and that's a big part of why the stock fell almost 4% during the trading session following the morning announcement. This is an increase of 487% compared to the typical volume of 179 put options.

For the quarter ending in March, Philip Morris International earned 98 cents per share on $6.06 billion worth of revenue. Philip Morris International had a negative return on equity of 64.94% and a net margin of 9.30%. -EPS Growth (Y-o-Y): 4.1% -Analysts Estimate: $1.03 -Revenue (Q1): $16.56 Bln vs. $16.79 Bln past year. "Q1 adjusted EPS of $0.98 vs. $0.98 is $0.11 below our estimate, as total cigarette shipment volumes fell 12%, more than we expected".

Operating income for the quarter was $2,396 million, compared with $2,473 million in the previous year period. For the full year, Philip Morris expects diluted earnings per share between $4.84 and $4.99 and adjusted earnings per share of $4.48.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 11th. Shareholders of record on Thursday, March 23rd were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date was Tuesday, March 21st. Philip Morris International's payout ratio is presently 92.86%.

TRADEMARK VIOLATION NOTICE: "Baillie Gifford & Co". Parametrica Management Ltd bought a new stake in Philip Morris International during the third quarter worth $382,000. "(PM)" was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another site, it was copied illegally and republished in violation of USA and global copyright laws. The original version of this news story can be accessed at https://www.thecerbatgem.com/2017/04/20/baillie-gifford-co-buys-6518-shares-of-philip-morris-international-inc-pm-updated-updated.html.

PM has been the subject of a number of research reports. Vetr cut shares of Philip Morris International from a "strong-buy" rating to a "buy" rating and set a $101.10 price target for the company.in a research report on Wednesday, January 18th. Barclays PLC increased their price target on Philip Morris International from $108.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, March 29th. The company now has an average rating of "Buy" and an average price target of $110.17. BlackRock Inc is the second biggest holder with 89 million shares now valued at 9.76 B million whilst Capital Research Global Investors has 74 million shares valued at 6.74 B million.

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