Philip Morris International Inc. (PM) To Go Ex-Dividend on September 26th

Philip Morris International Inc. (NYSE:PM) announced a quarterly dividend on Thursday, September 12th, RTT News reports. Shareholders of record on Thursday, September 26th will be paid a dividend of 1.35 per share on Thursday, October 10th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date is Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30.

Philip Morris International has increased its dividend payment by an average of 2.7% annually over the last three years and has increased its dividend annually for the last 17 consecutive years. Philip Morris International has a dividend payout ratio of 76.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Philip Morris International to earn $7.09 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 76.2%.

Philip Morris International Price Performance

Shares of NYSE PM opened at $121.09 on Tuesday. Philip Morris International has a 1-year low of $87.23 and a 1-year high of $128.22. The firm has a market capitalization of $188.24 billion, a PE ratio of 23.65, a P/E/G ratio of 2.45 and a beta of 0.55. The business’s fifty day moving average price is $118.49 and its two-hundred day moving average price is $104.97.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.60 EPS. Equities research analysts expect that Philip Morris International will post 6.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Barclays lifted their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Stifel Nicolaus increased their target price on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, UBS Group lifted their target price on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average price target of $117.05.

About Philip Morris International

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.