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Why Philip Morris (PM) Outpaced the Stock Market Today
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Philip Morris (PM - Free Report) closed the most recent trading day at $91.09, moving +0.57% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.51% for the day. Elsewhere, the Dow saw an upswing of 0.2%, while the tech-heavy Nasdaq appreciated by 0.58%.
Coming into today, shares of the seller of Marlboro and other cigarette brands had lost 1.19% in the past month. In that same time, the Consumer Staples sector lost 0.38%, while the S&P 500 gained 2.94%.
Investors will be eagerly watching for the performance of Philip Morris in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 23, 2024. The company's upcoming EPS is projected at $1.40, signifying a 1.45% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $8.45 billion, up 4.28% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.39 per share and a revenue of $37.17 billion, signifying shifts of +6.32% and +5.43%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Philip Morris. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.01% lower. At present, Philip Morris boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Philip Morris is presently trading at a Forward P/E ratio of 14.18. This represents a premium compared to its industry's average Forward P/E of 7.88.
We can additionally observe that PM currently boasts a PEG ratio of 2.04. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Tobacco industry currently had an average PEG ratio of 1.63 as of yesterday's close.
The Tobacco industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 90, finds itself in the top 36% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why Philip Morris (PM) Outpaced the Stock Market Today
Philip Morris (PM - Free Report) closed the most recent trading day at $91.09, moving +0.57% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.51% for the day. Elsewhere, the Dow saw an upswing of 0.2%, while the tech-heavy Nasdaq appreciated by 0.58%.
Coming into today, shares of the seller of Marlboro and other cigarette brands had lost 1.19% in the past month. In that same time, the Consumer Staples sector lost 0.38%, while the S&P 500 gained 2.94%.
Investors will be eagerly watching for the performance of Philip Morris in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 23, 2024. The company's upcoming EPS is projected at $1.40, signifying a 1.45% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $8.45 billion, up 4.28% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.39 per share and a revenue of $37.17 billion, signifying shifts of +6.32% and +5.43%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Philip Morris. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.01% lower. At present, Philip Morris boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Philip Morris is presently trading at a Forward P/E ratio of 14.18. This represents a premium compared to its industry's average Forward P/E of 7.88.
We can additionally observe that PM currently boasts a PEG ratio of 2.04. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Tobacco industry currently had an average PEG ratio of 1.63 as of yesterday's close.
The Tobacco industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 90, finds itself in the top 36% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.