Published: Fri, April 21, 2017
Business | By Max Garcia

Why Philip Morris Earnings Went Up in Smoke

Philip Morris International Inc. (NYSE:PM) by 22.6% during the first quarter, Holdings Channel reports. Greenleaf Trust now owns 14,674 shares of the company's stock worth $1,427,000 after buying an additional 4,419 shares during the period. Finally, Newman Dignan & Sheerar Inc. increased its position in shares of Philip Morris International by 0.3% in the first quarter. Oakbrook Investments LLC boosted its position in shares of Philip Morris International by 34.6% in the third quarter. At the same time, adjusted EBITDA margin contracted 11 basis points in the quarter to 15.66 percent from 15.77 percent in the a year ago period.

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! After a recent check, company stock has been trading near the $114.05 mark. Gulf International Bank UK Ltd increased its stake in Philip Morris International by 0.8% in the third quarter. Howard Capital Management now owns 31,405 shares of the company's stock worth $3,053,000 after buying an additional 625 shares during the period. Buys 6,518 Shares of Philip Morris International Inc. The S&P 500's gain of 0.76% left it at 2355.85 for the day, and above its pivotal 20-day moving average line.

Shares of Philip Morris International Inc. The firm has a market cap of $176.72 billion, a P/E ratio of 25.43 and a beta of 0.94.

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. (NYSE:PM) is set to report quarterly earnings on 4/20/2017 8:30:00 AM.

The New York-based company said it had net income of $1.02 per share. The company earned $6.06 billion during the quarter, compared to analyst estimates of $6.47 billion.

PM said that total cigarette and heated tobacco unit shipment volume in the first quarter was 178.0 billion, down by 9.4% from a year ago. Over the last six months, Philip Morris International Inc.'s stock has been 21.75% and 19.54% for the year.

The business also recently announced 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 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Tuesday, March 21st. Philip Morris International's dividend payout ratio is 92.86%.

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PM has been the subject of several recent research reports. Finally, Zacks Investment Research raised Philip Morris International from a "hold" rating to a "buy" rating and set a $126.00 price target for the company in a report on Wednesday, March 29th.

Shares of Philip Morris fell 3% in premarket trade Thursday after the company missed first-quarter profit and revenue expectations.

Unfortunately, Philip Morris wasn't able to give investors that level of reassurance, as cigarette shipments were unexpectedly weak. Jefferies Group LLC reaffirmed a "hold" rating and set a $104.00 price target on shares of Philip Morris International in a report on Friday, March 24th. However, the brokerage maintained its Hold rating on the stock.

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