Posted 2/23/2024, 11:15:06 PM
Philip Morris Stock Outperforms Market Ahead of Expected Earnings Growth
- Philip Morris (PM) stock recently outperformed the market, with a 0.41% gain vs 0.04% for the S&P 500
- PM is expected to report earnings per share of $1.40 next quarter, a 1.45% increase year-over-year
- Consensus estimates call for PM's full year earnings and revenue growth of 6.49% and 4.66%, respectively
- PM currently sports a Zacks Rank of #3 (Hold) and trades at a premium valuation based on its Forward P/E ratio
- The Tobacco industry ranks in the top 42% of Zacks Industries, suggesting relatively good performance potential