We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Philip Morris (PM) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
Philip Morris (PM - Free Report) closed at $93.30 in the latest trading session, marking a +0.7% move from the prior day. This change outpaced the S&P 500's 0.69% gain on the day. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq lost 8.94%.
Heading into today, shares of the seller of Marlboro and other cigarette brands had lost 2.47% over the past month, outpacing the Consumer Staples sector's loss of 4.12% and lagging the S&P 500's gain of 5.41% in that time.
Investors will be hoping for strength from Philip Morris as it approaches its next earnings release, which is expected to be July 20, 2023. On that day, Philip Morris is projected to report earnings of $1.47 per share, which would represent a year-over-year decline of 0.68%. Meanwhile, our latest consensus estimate is calling for revenue of $8.73 billion, up 11.41% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.20 per share and revenue of $35.24 billion, which would represent changes of +3.68% and +10.95%, respectively, from the prior year.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 0.26% lower. Philip Morris is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Philip Morris is holding a Forward P/E ratio of 14.94. This valuation marks a premium compared to its industry's average Forward P/E of 9.56.
Investors should also note that PM has a PEG ratio of 2.34 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Tobacco industry currently had an average PEG ratio of 2.31 as of yesterday's close.
The Tobacco industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 121, putting it in the top 49% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Philip Morris (PM) Outpaces Stock Market Gains: What You Should Know
Philip Morris (PM - Free Report) closed at $93.30 in the latest trading session, marking a +0.7% move from the prior day. This change outpaced the S&P 500's 0.69% gain on the day. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq lost 8.94%.
Heading into today, shares of the seller of Marlboro and other cigarette brands had lost 2.47% over the past month, outpacing the Consumer Staples sector's loss of 4.12% and lagging the S&P 500's gain of 5.41% in that time.
Investors will be hoping for strength from Philip Morris as it approaches its next earnings release, which is expected to be July 20, 2023. On that day, Philip Morris is projected to report earnings of $1.47 per share, which would represent a year-over-year decline of 0.68%. Meanwhile, our latest consensus estimate is calling for revenue of $8.73 billion, up 11.41% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.20 per share and revenue of $35.24 billion, which would represent changes of +3.68% and +10.95%, respectively, from the prior year.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 0.26% lower. Philip Morris is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Philip Morris is holding a Forward P/E ratio of 14.94. This valuation marks a premium compared to its industry's average Forward P/E of 9.56.
Investors should also note that PM has a PEG ratio of 2.34 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Tobacco industry currently had an average PEG ratio of 2.31 as of yesterday's close.
The Tobacco industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 121, putting it in the top 49% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.