Philip Morris (PM) Q1 Beats Expectations

Philip Morris International, Inc. (PM) rallied $3.12 to $81.25 in pre-market trading after it reported fiscal-first quarter earnings.

The seller of Marlboro and other cigarette brands handed in non-GAAP earnings of $1.16 per share on revenue of $6.62 billion, beating Wall Street estimates of $1.01 per share on revenue of $6.13 billion. Net profit came in at $1.8 billion, decreasing 8.3% yoy. However, when excluding unfavorable currency of $445 million and the impact of acquisitions, net revs increased by 13.9%.

For full fiscal year 2015, Philip Morris provided EPS guidance of $4.32 – $4.42 versus consensus of $4.25 per share.

On valuation measures, PM Inc. shares, which currently have an average 3-month trading volume of 5.72 million shares, trade at a trailing-12 P/E of 16.41, a forward P/E of 17.06 and a P/E to growth ratio of 3.40. The median Wall Street price target on the name is $82.00 with a high target of $93.00. Currently ticker boasts 6 ‘Buy’ endorsements, compared to 8 ’Holds’ and 4 ‘Sell’.

Profitability-wise, PM has a t-12 profit and operating margin of 25.17% and 41.11%, respectively. The $120.86 billion market cap company reported $1.52 billion in cash vs. $30.58 billion in debt in its most recent quarter.

PM currently prints a one year loss of 2.73% and a year-to-date loss of around 3%.

The chart below shows where the equity has traded over the last 52 weeks.

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