|Bid||72.71 x 800|
|Ask||73.02 x 900|
|Day's Range||70.51 - 73.09|
|52 Week Range||56.01 - 90.17|
|Beta (5Y Monthly)||0.78|
|PE Ratio (TTM)||14.86|
|Earnings Date||Jul. 21, 2020|
|Forward Dividend & Yield||4.68 (6.67%)|
|Ex-Dividend Date||Jun. 19, 2020|
|1y Target Est||83.73|
Philip Morris (PM) is likely to benefit from the FDA's latest move. Notably, the FDA authorizes IQOS's marketing as a modified risk tobacco product.
With reinvestment, only minimal to modest share price appreciation would be needed to double your money with these brand-name companies.
FDA Authorizes Marketing of IQOS as a Modified Risk Tobacco Product
For many investors, the main point of stock picking is to generate higher returns than the overall market. But its...
In a potential win for international tobacco titan Philip Morris (NYSE: PM), the FDA approved its "heatsticks" and the associated electronic IQOS device for marketing as a "reduced exposure" tobacco product, offering reduced exposure to the substances found in ordinary cigarettes or cigars. The authorization lets Philip Morris advertise the items as safer "modified risk tobacco products," or MRTPs. Instead of involving actual combustion of tobacco leaves and preservative chemicals in a traditional smoking item such as a cigarette, the IQOS and heatstick system takes a different approach.
Rather than developing its own vaccine in the global race to combat the pandemic, GSK has instead focused on contributing its adjuvant technology to at least seven other global companies, including Sanofi <SAY.PA> and China's Clover. The latest deal, with Canadian firm Medicago, uses plant-based technology that differs from GSK's other coronavirus-partnerships and boosts the London-listed company's chances of finding a successful candidate and scaling production relatively quickly. There are no approved vaccines for the respiratory illness caused by the new coronavirus, but 19 vaccines are being trialled in humans globally and some treatments, such as Gilead's <GILD.O> remdesivir, have been approved in certain regions.
Regulatory News: Philip Morris International Inc. (PMI) (NYSE: PM) today published its first Integrated Report, a comprehensive overview of the company’s environmental, social, and governance (ESG) performance and its progress toward delivering a smoke-free future—including the company’s ambition to switch more than 40 million adult smokers to its smoke-free products by 2025, with half of the total to come from non-OECD countries.
Philip Morris (PM) anticipates coronavirus woes to have detrimental impacts on its second-quarter performance. Nonetheless, the company's pricing strength bodes well.
The Zacks Analyst Blog Highlights: Alphabet, AT&T, Philip Morris International, Amazon, Microsoft, Texas Instruments and United Parcel Service
New Study Shows Decline of Total Illicit Cigarette Consumption in the European Union in 2019 Despite Continued Increase in Counterfeiting
For the past four months, Wall Street and investors have been taken on quite the ride. Essentially, investors experienced a decade's worth of volatility crammed into a third of one year. When the stock market crashes and volatility picks up, few investments can be as enticing as dividend stocks.
Regulatory News: Philip Morris International Inc.’s (NYSE:PM) Chief Operating Officer, Jacek Olczak, and Chief Financial Officer, Emmanuel Babeau, address investors today at the Deutsche Bank Global Consumer Conference.
(Bloomberg Opinion) -- So, perhaps reassuringly, it turned out tobacco wasn’t so defensive during this global health crisis after all.After indications early in the pandemic that tobacco may hold up, British American Tobacco Plc on Tuesday reduced its forecasts for full-year sales growth as Covid-19 lockdowns hurt business in emerging markets. The maker of Dunhill, Lucky Strike and Rothmans cigarettes depends on developing nations for one-quarter of its revenue.South Africa has banned sales of tobacco products as part of a strict lockdown policy that BAT and other companies are fighting. Cigarette consumption has been disrupted by curfews in some markets, such as Bangladesh. In addition, smoking in markets such as Vietnam often takes place in bars and restaurants. With establishments closed, or consumers reluctant to venture out, there was less temptation to light up.This slowdown provides good reason for pause for investors in BAT, led by the relatively new Chief Executive Officer Jack Bowles. With higher smoking rates, and the potential for consumers to trade up to more expensive brands as average incomes grow, these regions are supposed to offset the deterioration in developed markets as people there quit smoking. But now, because of the coronavirus hit, BAT expects a 7% decline in global industry sales volumes of cigarettes and heated-tobacco devices this year, more than the previously anticipated 5% fall.This scenario has implications for competitors such as Philip Morris International Inc. and Japan Tobacco Inc., which produces Winston and Benson & Hedges cigarettes. Japan Tobacco has been using its strong balance sheet to buy emerging-market brands over the past few years.As the contagion spread and shined a spotlight on potential risks related to smoking, lockdowns meant BAT had to delay launches of new devices that heat rather than burn tobacco and electronic cigarettes, because the stores where they’re sold were shut. The U.S. market, the world’s biggest for electronic cigarettes, was already struggling to recover after a spate of illnesses and deaths last year related to vaping.Consequently, BAT expects to reach its target of annual sales of 5 billion pounds ($6.4 billion) from tobacco alternatives a year later than planned, in 2025. The dislocation across cigarettes and newer products will lead to lower underlying earnings growth this year than previously forecast, as well as a slower reduction in debt.However, it’s still too early to throw out the thesis that people will reach for cigarettes no matter what’s happening. In developed markets, consumption is holding up. In the U.S., for example, industry volumes could now fall by only about 4% this year, compared with the 5% previously anticipated, amid signs pointing to BAT gaining market share and few consumers are switching to cheaper brands.Vaping as a category is still reeling, but BAT is making headway with its Vuse and Vype brands. And it continues to invest in its tobacco heating device Glo, as well as in oral tobacco Velo. The strategy of having a balanced portfolio of new-generation products is wise. It’s not yet clear which of these categories will be the winner as traditional cigarette sales decline.True, BAT had to lower its outlook and there is a risk that smokers will seek out cheaper brands in a recession, but at least the company is updating investors regularly. It also remains committed to its policy of paying out 65% of underlying earnings per share. Rival Imperial Brands Plc cut its dividend last month.BAT has not been immune from the pandemic, but the company is positioning itself well for the future. And who knows, its biotech subsidiary might even come up with a Covid-19 vaccine.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
In a span of 33 calendar days, beginning on Feb. 19, panic and uncertainty surrounding the coronavirus disease (COVID-19) pandemic sent the benchmark S&P 500 down by 34%. This was the fastest descent from an all-time high in the stock market's history, and it triggered the highest volatility reading ever on the CBOE Volatility Index.
Regulatory News: The Board of Directors of Philip Morris International Inc. (NYSE:PM) today declared a regular quarterly dividend of $1.17 per common share, payable on July 10, 2020, to shareholders of record as of June 22, 2020.
Philip Morris International Inc. ("PMI") (NYSE:PM) will host a live audio call of a presentation and question and answer session by Jacek Olczak, Chief Operating Officer, and Emmanuel Babeau, Chief Financial Officer, at the Deutsche Bank Global Consumer Conference on Thursday, June 11, 2020, at approximately 7:00 a.m. ET.
Tobacco companies aren't quite immune to economic impacts, though, and Philip Morris International (NYSE: PM) hasn't held up nearly as well as some companies in the food and household products categories. For Philip Morris, a long transition away from traditional cigarettes toward reduced-risk alternatives has taken investors for a bumpy ride, but the company remains hopeful that its long-term strategy remains sound. Let's look more closely at the tobacco giant to see if Philip Morris stock is a good buy.
Panic surrounding the coronavirus disease 2019 (COVID-19) pandemic wound up pushing the benchmark S&P 500 to its fastest bear market in history, and it ultimately cost the index 34% of its value in a 33-calendar-day stretch. While it's common for panic selling of this nature to concern investors, it's also important to realize that every bear market in history has proved to be an excellent opportunity for long-term-minded investors to put their capital to work. Historically speaking, there's probably not a smarter thing you can do with your cash than to buy dividend stocks.
(Bloomberg Opinion) -- After a prolonged shutdown, Ford Motor Co. officially resumed production at its North American factories this week. It hasn’t been as smooth a process as the company might have hoped: Ford had to temporarily close two critical facilities this week to allow for a deep cleaning after workers tested positive for the coronavirus. An Explorer SUV plant in Chicago was closed a second time after an employee at a nearby supplier facility tested positive for the virus, causing a parts shortage.This is the reality of manufacturing for the time being as companies fret about worker safety and the legal and reputational risks of not doing enough to protect employees. Unlike Ford, whose products fall into a category of consumer spending that’s become even more discretionary amid the pandemic, wide swaths of the industrial sector were deemed essential and allowed to remain operational. Those companies, too, have had their share of growing pains as they adjust to a new way of working.Boeing Co. temporarily closed its factories in the Puget Sound area in March after a worker died of the coronavirus and later briefly shuttered work at its 787 plant in South Carolina. CBS Minnesota reported earlier this month that a Honeywell International Inc. facility in Minneapolis had closed after a worker tested positive. Whirlpool Corp. closed its Amana, Iowa, refrigerator plant at least twice after employees tested positive for the virus, according to the Gazette local paper. Deere & Co. and Altria Group Inc.’s Philip Morris USA are among the many others that have had to close plants on a limited basis to avoid outbreaks among workers. Lockheed Martin Corp., meanwhile, said this week it will temporarily slow production of the F-35 fighter jet because of delays at suppliers. It’s a lot harder, though, to bring factories back to life than it is to just figure it out as you go along. Ford may be a manufacturer, but because it’s one of the few to have experienced an extended lockdown, it’s arguably a better benchmark for the non-industrial economy. You better believe that office-based companies that have sent most of their workers home are keeping a close eye on how the likes of Ford fare in flipping the switch back on. Seeing the automaker’s setbacks this week, companies that can operate without their employees clustered in the same place may be less keen to rush back. They’re getting a more continuous stream of work out of their employees now than they would if they had to hit the pause button and clear out the office every few weeks. And the mixed messages from the White House aren't helpful: President Donald Trump is due to visit a Ford factory in Michigan that’s been converted to ventilator production and has been wishy-washy on whether he will adhere to the company’s face-mask requirements. Already, American Express Co. CEO Steve Squeri and Visa Inc. CEO Al Kelly said this week that most of their employees would work from home for the rest of the year. Some 28% of employers recently surveyed by Challenger, Gray & Christmas said they would make work-from-home arrangements permanent for at least some employees. Cryptocurrency exchange Coinbase and social media site Twitter Inc. are among those who have publicly said remote working will be their indefinite default option. Facebook Inc. said Thursday it would follow suit and move to a more permanent remote workforce.At the end of the day, manufacturing or non-manufacturing, it's all interconnected. How permanent this shift to work from home will be is debatable, but if companies end up needing less office space, by default that means fewer HVAC systems, commercial lighting, fire and security products or even 3M Co.’s Post-it notes. And if workers aren’t going to be commuting, do they still need to buy cars from Ford? There's a lot riding on getting reopening right. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.