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Here's Why Philip Morris (PM) Gained But Lagged the Market Today
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Philip Morris (PM - Free Report) closed the most recent trading day at $94.67, moving +0.28% from the previous trading session. This change lagged the S&P 500's 1.12% gain on the day. Meanwhile, the Dow experienced a rise of 0.61%, and the technology-dominated Nasdaq saw an increase of 1.54%.
Prior to today's trading, shares of the seller of Marlboro and other cigarette brands had gained 4.9% over the past month. This has outpaced the Consumer Staples sector's gain of 1.98% and the S&P 500's gain of 2.06% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Philip Morris in its upcoming earnings disclosure. The company's earnings report is set to go public on April 23, 2024. The company is forecasted to report an EPS of $1.40, showcasing a 1.45% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $8.45 billion, up 4.28% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.39 per share and revenue of $37.17 billion. These totals would mark changes of +6.32% and +5.43%, respectively, from last year.
Investors should also take note of any recent adjustments 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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.16% lower. Philip Morris currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Philip Morris is presently trading at a Forward P/E ratio of 14.78. This signifies a premium in comparison to the average Forward P/E of 8.42 for its industry.
It's also important to note that PM currently trades at a PEG ratio of 2.13. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Tobacco industry had an average PEG ratio of 1.69.
The Tobacco industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Here's Why Philip Morris (PM) Gained But Lagged the Market Today
Philip Morris (PM - Free Report) closed the most recent trading day at $94.67, moving +0.28% from the previous trading session. This change lagged the S&P 500's 1.12% gain on the day. Meanwhile, the Dow experienced a rise of 0.61%, and the technology-dominated Nasdaq saw an increase of 1.54%.
Prior to today's trading, shares of the seller of Marlboro and other cigarette brands had gained 4.9% over the past month. This has outpaced the Consumer Staples sector's gain of 1.98% and the S&P 500's gain of 2.06% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Philip Morris in its upcoming earnings disclosure. The company's earnings report is set to go public on April 23, 2024. The company is forecasted to report an EPS of $1.40, showcasing a 1.45% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $8.45 billion, up 4.28% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.39 per share and revenue of $37.17 billion. These totals would mark changes of +6.32% and +5.43%, respectively, from last year.
Investors should also take note of any recent adjustments 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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.16% lower. Philip Morris currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Philip Morris is presently trading at a Forward P/E ratio of 14.78. This signifies a premium in comparison to the average Forward P/E of 8.42 for its industry.
It's also important to note that PM currently trades at a PEG ratio of 2.13. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Tobacco industry had an average PEG ratio of 1.69.
The Tobacco industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.