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Philip Morris (PM) Stock Dips While Market Gains: Key Facts

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Philip Morris (PM - Free Report) closed the most recent trading day at $89.48, moving -0.69% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.11% for the day. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 1.24%.

The the stock of seller of Marlboro and other cigarette brands has fallen by 1.54% in the past month, leading the Consumer Staples sector's loss of 3.94% and undershooting the S&P 500's gain of 0.48%.

The investment community will be paying close attention to the earnings performance of Philip Morris in its upcoming release. The company is slated to reveal its earnings on April 23, 2024. The company is predicted to post an EPS of $1.40, indicating a 1.45% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.45 billion, indicating a 4.28% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates project earnings of $6.39 per share and a revenue of $37.17 billion, demonstrating changes of +6.32% and +5.43%, respectively, from the preceding 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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.

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 remained unchanged. Philip Morris presently features a Zacks Rank of #3 (Hold).

With respect to valuation, Philip Morris is currently being traded at a Forward P/E ratio of 14.1. This signifies a premium in comparison to the average Forward P/E of 8.17 for its industry.

One should further note that PM currently holds a PEG ratio of 2.03. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Tobacco industry had an average PEG ratio of 1.63.

The Tobacco industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 58, positioning it in the top 24% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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