Philip Morris International (PM) has consistently outperformed its competitors, backed by strong trading days, robust full-year earnings growth, and positive Q1 2024 results. However, concerns rise among investors due to PM's Returns on Capital. J.W. Cole and Sumitomo Mitsui reduced their positions in PM while both Diversify and BKM increased their shares. Despite missing Q4 estimates, analysts are still recommending a 'Hold' rating. The company has made substantial strides with the introduction of Zyn, which beat Q1 expectations, and the increase in the demand for heated tobacco sticks. Additionally, Wall Street analysts forecast a 24% upside for Philip Morris stocks. PMIs transparency about its financial performance aligns with the outlook of offering a smoke-free future, as PMI topped Forbes' 2024 Net Zero Leaders List. PM also recently acquired a minority stake in Egypt-based Eastern Company, signifying its emerging global footprint. The tobacco giant also reveals that its heated-tobacco sits are selling more than Marlobro products. Nonetheless, PM cut its full-year profit guidance, causing stocks to slip. Despite potential undervaluation, PM stock is still deemed a good buy with a robust yield of 5.6%.
Philip Morris International PM News Analytics from Tue, 03 Oct 2023 07:00:00 GMT to Sat, 06 Jul 2024 14:00:04 GMT - Rating 6 - Innovation 4 - Information 8 - Rumor -3
