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Philip Morris (PM) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Philip Morris (PM - Free Report) closed at $98.48, marking a +0.88% move from the previous day. This move outpaced the S&P 500's daily gain of 0.12%. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq added 5.14%.
Wall Street will be looking for positivity from Philip Morris as it approaches its next earnings report date. This is expected to be July 20, 2023. On that day, Philip Morris is projected to report earnings of $1.34 per share, which would represent a year-over-year decline of 9.46%. Our most recent consensus estimate is calling for quarterly revenue of $8.69 billion, up 10.96% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.20 per share and revenue of $35.19 billion. These totals would mark changes of +3.68% and +10.78%, respectively, from last year.
Any recent changes to analyst estimates for Philip Morris should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.28% lower within the past month. Philip Morris is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Philip Morris is holding a Forward P/E ratio of 15.74. Its industry sports an average Forward P/E of 9.76, so we one might conclude that Philip Morris is trading at a premium comparatively.
It is also worth noting that PM currently has a PEG ratio of 2.47. 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. Tobacco stocks are, on average, holding a PEG ratio of 2.37 based on yesterday's closing prices.
The Tobacco industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Philip Morris (PM) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Philip Morris (PM - Free Report) closed at $98.48, marking a +0.88% move from the previous day. This move outpaced the S&P 500's daily gain of 0.12%. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq added 5.14%.
Wall Street will be looking for positivity from Philip Morris as it approaches its next earnings report date. This is expected to be July 20, 2023. On that day, Philip Morris is projected to report earnings of $1.34 per share, which would represent a year-over-year decline of 9.46%. Our most recent consensus estimate is calling for quarterly revenue of $8.69 billion, up 10.96% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.20 per share and revenue of $35.19 billion. These totals would mark changes of +3.68% and +10.78%, respectively, from last year.
Any recent changes to analyst estimates for Philip Morris should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.28% lower within the past month. Philip Morris is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Philip Morris is holding a Forward P/E ratio of 15.74. Its industry sports an average Forward P/E of 9.76, so we one might conclude that Philip Morris is trading at a premium comparatively.
It is also worth noting that PM currently has a PEG ratio of 2.47. 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. Tobacco stocks are, on average, holding a PEG ratio of 2.37 based on yesterday's closing prices.
The Tobacco industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.