Home
News
- 1 PM stock price performing bullish since the last 1-month, while also showing a positive weekly outlook.
- 2 Philip Morris International Inc. will soon release its second quarter 2023 reports mid-July.
Philip Morris International Inc. (NYSE: PM), an American multinational tobacco company, has a market cap of nearly $152.86 Billion. As per its financial reports, in Q1 2023, its net income was nearly $1.99 Billion. The earnings per share reported in the same quarter was $1.38, while the estimate was $1.34. In the upcoming quarterly report, the company estimates its earnings per share to be $1.50.
The revenue reported in Q1 2023 was $8.02 Billion; however, the estimate was a bit high at $8.11 Billion. Now, for Q2 2023, the estimated revenue is expected to reach $8.77 Billion.
Last year, Philip Morris International Inc. revenue reached $31.76 Billion, most of which around $21.57 Billion came from its highest performing source at the moment, Combustible Tobacco. It must be noted the greatest contribution to the revenue figure was made by the European Union which brought it $12.12 Billion last year.
Over 77% of Philip Morris International Inc. shares are held by the top-3 institutions- Vanguard Group, Inc., Capital World Investors, and Capital International Investors.
According to a latest filing with the Securities & Exchange Commission (SEC), Whittier Trust Co. of Nevada Inc. boosted its stake in Philip Morris International Inc. shares by 1.6% in the first quarter. As per the filing, the holding of Whittier Trust Co. of Nevada Inc. in Philip Morris International was worth $11,696,000.
PM Stock Price Analysis
On July 3, 2023, Monday’s trading session, PM stock opened at $98.00, noted high at $98.52 while low was $97.41. Heading towards the end of the day, the stock closed at the price of $98.48, while gaining nearly 0.88%. The bullish start of Philip Morris stock in the beginning of this week gave it a positive push.
The above price chart shows the previous day’s performance of PM stock, showing an upside outlook followed by the stock. The stock has already surpassed its 200-day moving average while most of the time bulls have shown their dominance. The RSI also reached its overbought zone, which further indicated investors’ strong support.
The analysts have set their 1-year price target at $112.12, which shows an over 13% rise from its recent closing of the stock. Additionally, their maximum estimate for PM stock rests at $120.00 while minimum estimate is $87.00.
In the upcoming trading session, PM stock may show volatility as the company will soon release its Q2 2023 reports. Meanwhile, more bulls dominance can be expected that will need less activeness.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
