BTI - Philip Morris: Successful Pivot To Next-Generation Products
2024-02-11 23:53:26 ET
Summary
- The Philip Morris stock fell after missing Q4 2023 earnings estimates, but the results are good on their own, with healthy growth in both revenues and adjusted earnings.
- Its outlook for the medium term is positive too, particularly as it expects to continue its successful pivot toward next-generation tobacco and nicotine products.
- While neither the market multiples nor dividend yield compares favourably with peers, its forward P/Es are lower than its own past levels and the yield is good on its own.
Tobacco stock Philip Morris ( PM ) was punished for missing Q4 2023 earnings estimates, as the share price fell by 2.7%, a non-trivial decline compared to daily price movements over the past year....
Philip Morris: Successful Pivot To Next-Generation Products