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Philip Morris (PM) Dips More Than Broader Markets: What You Should Know
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Philip Morris (PM - Free Report) closed the most recent trading day at $92.58, moving -0.51% from the previous trading session. This change lagged the S&P 500's 0.27% loss on the day. Meanwhile, the Dow lost 0.47%, and the Nasdaq, a tech-heavy index, added 0.14%.
Heading into today, shares of the seller of Marlboro and other cigarette brands had lost 3.13% over the past month, outpacing the Consumer Staples sector's loss of 5.93% and lagging the S&P 500's loss of 2.86% in that time.
Investors will be hoping for strength from Philip Morris as it approaches its next earnings release, which is expected to be October 19, 2023. The company is expected to report EPS of $1.64, up 7.19% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.27 billion, up 15.37% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.20 per share and revenue of $35.7 billion. These totals would mark changes of +3.68% and +12.39%, respectively, from last year.
Any recent changes to analyst estimates for Philip Morris should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection has moved 0.3% lower. Philip Morris currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Philip Morris has a Forward P/E ratio of 15.01 right now. This represents a premium compared to its industry's average Forward P/E of 8.85.
We can also see that PM currently has a PEG ratio of 1.95. 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 industry currently had an average PEG ratio of 2.1 as of yesterday's close.
The Tobacco industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 177, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Philip Morris (PM) Dips More Than Broader Markets: What You Should Know
Philip Morris (PM - Free Report) closed the most recent trading day at $92.58, moving -0.51% from the previous trading session. This change lagged the S&P 500's 0.27% loss on the day. Meanwhile, the Dow lost 0.47%, and the Nasdaq, a tech-heavy index, added 0.14%.
Heading into today, shares of the seller of Marlboro and other cigarette brands had lost 3.13% over the past month, outpacing the Consumer Staples sector's loss of 5.93% and lagging the S&P 500's loss of 2.86% in that time.
Investors will be hoping for strength from Philip Morris as it approaches its next earnings release, which is expected to be October 19, 2023. The company is expected to report EPS of $1.64, up 7.19% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.27 billion, up 15.37% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.20 per share and revenue of $35.7 billion. These totals would mark changes of +3.68% and +12.39%, respectively, from last year.
Any recent changes to analyst estimates for Philip Morris should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection has moved 0.3% lower. Philip Morris currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Philip Morris has a Forward P/E ratio of 15.01 right now. This represents a premium compared to its industry's average Forward P/E of 8.85.
We can also see that PM currently has a PEG ratio of 1.95. 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 industry currently had an average PEG ratio of 2.1 as of yesterday's close.
The Tobacco industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 177, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.