Philip Morris International PM has been under the spotlight due to numerous events and developments. This includes its 2024 Virtual Annual Meeting of Shareholders, ""Zyn-tastic"" Q1 results, and demand for heated tobacco sticks beating estimates. Fisher Asset Management notably purchased 7815 shares, with the belief that the heated tobacco device will soon launch in Texas, potentially yielding a 24% upside. However, PMI cut its full-year profit guidance. Ongoing demand for smoke-free products is noted, emphasising PMI's strength in this sector. Despite a 7% fall this year and Q4 miss, the company had a fantastic week with its one-year returns continuing to impress institutional owners. PMI's quarterly dividend stands at $1.30 per share. Speculation surrounds whether heated-tobacco products are PMI's future. Its Q1 2024 revenues beat expectations, albeit with earnings per share lagging. Moreover, PMI's ambitious plans for heated tobacco have gained traction among several analysts and investors. PMI claims its heated-tobacco devices are outselling Marlboro products. Finally, amidst these developments, legal and regulatory setbacks result in PMI being cut at Argus, disrupting estimated earnings.
Philip Morris International PM News Analytics from Wed, 13 Sep 2023 07:00:00 GMT to Thu, 09 May 2024 20:12:38 GMT - Rating 2 - Innovation 6 - Information 8 - Rumor -5
