Yahoo Finance Philip Morris (PM) Gains As Market Dips: What You Should Know
Philip Morris (PM) closed the most recent trading day at $92.25, moving +0.69% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.38%. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq lost 4.19%.
Coming into today, shares of the seller of Marlboro and other cigarette brands had lost 4.21% in the past month. In that same time, the Consumer Staples sector lost 5.29%, while the S&P 500 gained 3.78%.
Philip Morris will be looking to display strength as it nears its next earnings release, which is expected to be July 20, 2023. On that day, Philip Morris is projected to report earnings of $1.46 per share, which would represent a year-over-year decline of 1.35%. Meanwhile, our latest consensus estimate is calling for revenue of $8.72 billion, up 11.32% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.20 per share and revenue of $35.18 billion. These totals would mark changes of +3.68% and +10.77%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Philip Morris. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.32% lower. Philip Morris is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Philip Morris has a Forward P/E ratio of 14.78 right now. For comparison, its industry has an average Forward P/E of 9.4, which means Philip Morris is trading at a premium to the group.
We can also see that PM currently has a PEG ratio of 2.32. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Tobacco was holding an average PEG ratio of 2.27 at yesterday's closing price.
The Tobacco industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 176, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Philip Morris International Inc. (PM) : Free Stock Analysis Report
