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Philip Morris (PM) Gains As Market Dips: What You Should Know
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In the latest trading session, Philip Morris (PM - Free Report) closed at $95.56, marking a +1.62% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.72%. Meanwhile, the Dow lost 0.45%, and the Nasdaq, a tech-heavy index, lost 0.27%.
Coming into today, shares of the seller of Marlboro and other cigarette brands had lost 6.43% in the past month. In that same time, the Consumer Staples sector lost 6.82%, while the S&P 500 lost 9.06%.
Philip Morris will be looking to display strength as it nears its next earnings release, which is expected to be October 20, 2022. The company is expected to report EPS of $1.40, down 11.39% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.17 billion, down 11.75% from the year-ago period.
PM's full-year Zacks Consensus Estimates are calling for earnings of $5.99 per share and revenue of $29.98 billion. These results would represent year-over-year changes of -1.48% and -4.53%, respectively.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.53% higher. Philip Morris is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Philip Morris currently has a Forward P/E ratio of 15.71. Its industry sports an average Forward P/E of 8.87, so we one might conclude that Philip Morris is trading at a premium comparatively.
We can also see that PM currently has a PEG ratio of 3.62. 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 1.08 at yesterday's closing price.
The Tobacco industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 190, putting it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PM in the coming trading sessions, be sure to utilize Zacks.com.
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Philip Morris (PM) Gains As Market Dips: What You Should Know
In the latest trading session, Philip Morris (PM - Free Report) closed at $95.56, marking a +1.62% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.72%. Meanwhile, the Dow lost 0.45%, and the Nasdaq, a tech-heavy index, lost 0.27%.
Coming into today, shares of the seller of Marlboro and other cigarette brands had lost 6.43% in the past month. In that same time, the Consumer Staples sector lost 6.82%, while the S&P 500 lost 9.06%.
Philip Morris will be looking to display strength as it nears its next earnings release, which is expected to be October 20, 2022. The company is expected to report EPS of $1.40, down 11.39% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.17 billion, down 11.75% from the year-ago period.
PM's full-year Zacks Consensus Estimates are calling for earnings of $5.99 per share and revenue of $29.98 billion. These results would represent year-over-year changes of -1.48% and -4.53%, respectively.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.53% higher. Philip Morris is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Philip Morris currently has a Forward P/E ratio of 15.71. Its industry sports an average Forward P/E of 8.87, so we one might conclude that Philip Morris is trading at a premium comparatively.
We can also see that PM currently has a PEG ratio of 3.62. 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 1.08 at yesterday's closing price.
The Tobacco industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 190, putting it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PM in the coming trading sessions, be sure to utilize Zacks.com.