Phillip Morris Reaffirms Full Year Earnings Estimates (PM)
Tobacco giant, Philip Morris International Inc.(PM) reaffirms full year earnings estimate on Tuesday.
The company has reaffirmed its EPS guidance for its full year earnings, expecting EPS in the range of $5.12 to $5.18, up from last years full year EPS of $4.85. PM is forecasting that the international industry volume will decline 1.3% in the next 3 years.
The company’s market share has increased to 37%.
PM will report this news today in New York at the Morgan Stanley Global Consumer & Retail Conference.
Philip Morris shares were mostly flat Tuesday afternoon.
The Bottom Line
We recently began recommending shares of Phillip Morris International (PM) back on Nov.9, when the stock was trading at $$85.55. The shares have a 4.00% dividend yield, based on last night’s closing stock price of $84.98.
Philip Morris International Inc.(PM)is a “Recommended” dividend stock at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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