The holding company engaged in the manufacture and sale of cigarettes, tobacco and products containing nicotine. Philip Morris (evening), is expected to report earnings for the quarter ending in March 2023 Thursday (20/04), before the market opens.
In the previous quarter’s earnings report, the company reported earnings per share $1.39 Exceeding the consensus estimate $1.29. The company had a negative return on equity of 127.24% and net margins of 11.22% for revenue. $8.15 billion during the quarter, compared to a consensus estimate of $7.54 one billion. During the same period in the previous year, the company made a profit $1.35 EPS. The company’s quarterly revenue rose 0.6% compared to the same quarter a year ago. On average, analysts expect Philip Morris International to book $6 Earnings per share for the current fiscal year and $7 Earnings per share for the next fiscal year.
Widely known consensus forecasts are important in assessing a company’s earnings picture, but a strong factor that could affect its share price in the short term is how actual results compare to market estimates. It’s important to have a good understanding of the potential for a positive EPS surprise, although management’s discussion of the business case when earnings is called will largely determine the sustainability of current price changes and future earnings expectations.
The company is expected to publish quarterly profits to $1.33 per share In upcoming reports, which represents a year-over-year change of -14.7%. he won expected to be $8.06 billion and above 4.1% from last year’s quarter. Over the past 30 days, the consolidated EPS estimate for the quarter was downgraded 0.8% to its present value, reflecting a collective reassessment of initial analyst estimates. zacks Give #3 (Catch) Rating on PM share price.
Technical review
# Philip MorrisAnd D1 – In the first quarter of 2023, the company’s share price underwent a downward correction of -3.96%recording a new low $89.80 and closing price $97.14 At the end of March. recoil to $89.80 has climbed into the psychic range of $100.00 this week. the $100.00 The level is seen as an area of support and resistance and is crucial as a determinant of the next price direction, whether the price will move to the upside or the opposite direction. resistance in $100.52A move above this level has the potential to test the January 2023 peak $105.61.
While the movement is below the secondary support level at $97.99 (200 EMA), will test support at $96.81 first before moving down. The price is currently moving above the 26-day moving average (the blue line), coinciding with the histogram moving into overbought territory, while the RSI is showing at the 60 level and is not yet overbought.
Goldman Sachs Upgrade PM stock from Neutral to A “He buys” Rating and raise the target share price of $95.00 to $120.00. the UPS The Group upgraded PM’s rating from Neutral to A “He buys” Rating and share price target increase from $106.00 to $116.00. According to data from MarketBeatthe arrow currently contains a file “moderate buy” Consensus rating and target consensus price $110.36.
Based on 14 Wall Street Analyst who provided 12-month price targets for Philip Morris in the past 3 months, the average price target is $112.46 With high expectations for $120.00 And low expectations for $90.00. The average price target represents a change of 12.53% from the last price of $99.94. source: advice
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Eddie Fangisto
Market Analyst – HF Education Office – Indonesia
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