With Earnings Looming, Philip Morris Stock Continues Steady Growth

The tobacco company will report earnings on April 20

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Philip Morris International Inc. (NYSE:PM) is a Swiss-American multinational cigarette and tobacco manufacturing company, with products sold in over 180 countries. Their most recognized and best-selling product is Marlboro. Philip Morris International is often referred to as one of the companies comprising Big Tobacco.

On April 13, Philip Morris International announced that the company will release its first quarter of 2021 financial results on Tuesday, April 20. Over the past four quarters, Philip Morris International has been an all-star in the earnings confessional. PM has outperformed earnings expectations on all four reports. For the first quarter of 2020, Philip Morris International beat analyst estimates by a margin of $0.08 and reported and earnings per share (EPS) of $1.21. For the second quarter of 2020, PM increased its EPS to $1.29 and beat expectations by a margin of $0.19. For the third quarter of 2020, Philip Morris International posted another increase in earnings, rising to $1.42 per share and beating estimates by a margin of $0.06. In the most recent quarterly financials, Philip Morris International reported an EPS of $1.26 and beat expectations by a margin of $0.05.

PM stock price has increased about 22% in price compared to what it traded at a year ago and Philip Morris International stock price has grown 37% since bottoming out at an annual low of $66.85 on May 14, 2020. Shares of Philip Morris stock have also increased 11% year-to-date. Plus, the stock hit a fresh three-year high of $92.54 during today's session.  Furthermore, Philip Morris International stock offers a forward dividend of $4.80 and a dividend yield of 5.27%, and it looks to be one of the highest yielding dividend plays on the market.

From a fundamentals-focused perspective, the company only saw a 3.5% revenue decrease during the last year. Philip Morris International also increased its net income by 12% in fiscal 2020. However, Philip Morris has struggled to maintain consistent growth on both its top and bottom-lines in recent years. Overall, Philip Morris International stock remains a viable value play with a forward price-earnings ratio of 15.34. PM will likely produce some decent returns from dividend and stock appreciation over time.

 

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