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Philip Morris (PM) Gains As Market Dips: What You Should Know
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Philip Morris (PM - Free Report) closed the most recent trading day at $96.77, moving +0.49% from the previous trading session. This change outpaced the S&P 500's 0.45% loss on the day. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 3.58%.
Prior to today's trading, shares of the seller of Marlboro and other cigarette brands had gained 6.01% over the past month. This has outpaced the Consumer Staples sector's gain of 0.38% and the S&P 500's gain of 5.01% 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, the Zacks Consensus Estimate for revenue is projecting net sales of $8.73 billion, up 11.41% from the year-ago period.
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.
Any recent changes to analyst estimates for Philip Morris should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.34% lower. Philip Morris is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Philip Morris is holding a Forward P/E ratio of 15.53. This valuation marks a premium compared to its industry's average Forward P/E of 9.34.
Also, we should mention that PM has a PEG ratio of 2.44. 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 115, putting it in the top 46% 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.
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Philip Morris (PM) Gains As Market Dips: What You Should Know
Philip Morris (PM - Free Report) closed the most recent trading day at $96.77, moving +0.49% from the previous trading session. This change outpaced the S&P 500's 0.45% loss on the day. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 3.58%.
Prior to today's trading, shares of the seller of Marlboro and other cigarette brands had gained 6.01% over the past month. This has outpaced the Consumer Staples sector's gain of 0.38% and the S&P 500's gain of 5.01% 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, the Zacks Consensus Estimate for revenue is projecting net sales of $8.73 billion, up 11.41% from the year-ago period.
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.
Any recent changes to analyst estimates for Philip Morris should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.34% lower. Philip Morris is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Philip Morris is holding a Forward P/E ratio of 15.53. This valuation marks a premium compared to its industry's average Forward P/E of 9.34.
Also, we should mention that PM has a PEG ratio of 2.44. 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 115, putting it in the top 46% 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.