Philip Morris International (PM:NYSE) has been recognized by Forbes magazine’s 2024 Net Zero Leaders (the so-called Forbes 2024 Net Zero Leaders ) as the top 100 public US company in reducing greenhouse gas (GHG) emissions from its products. CEO of Philip Morris International Inc , Jacek Olczak said: “As we transform our company towards a smoke-free future, we are striving to do so in the most sustainable way possible, including leading the way in decarbonisation. We are honored to be recognized by Forbes as the highest ranked company among companies at the forefront of working toward net zero.”
Philip Morris International Inc. (NYSE:PM) is an American multinational company that develops and manufactures cigarettes and tobacco in more than 180 countries. The company was founded in 1847. The company is headquartered in New York, USA and is a subsidiary of Altria Group. The Chief Executive Officer of Philip Morris International Inc (NYSE-PM) is Jacek Olczak. The company employs 82,700 tribal workers. Philip Morris International (PMI) is actively developing its products for a smoke-free future and has long been evolving its portfolio to include products outside the tobacco and nicotine sectors. The company’s current product portfolio consists primarily of cigarettes and smokeless products. Since 2008, PMI has invested over $12.5 billion in development. The company’s goal is to develop and commercialize innovative smoke-free products for adults, with the goal of completely ending the sale of conventional cigarettes. This direction includes building a world-class scientific team comprised of experts in preclinical systems toxicology, clinical and behavioral researchers, including experts in post-marketing studies.
Philip Morris International Inc. (NYSE:PM) stock outlook for 2024
Brokerage analysts at Thomson Reuters expect that the company will report earnings of $6.30 per share for the fiscal year 2024. This is primarily due to IQOS products, which accounted for 39% of total net income for 2023. In Japan and Korea, IQOS products even made a full two-thirds of total net income. In Europe, IQOS sales exceeded 10% of total revenue for the first time. Philip Morris International (PM:NYSE) generated total sales of $35.174 billion for fiscal year 2023. Operating profit of USD 11.556 billion. After deducting all expenses, the company earned a net profit of USD 7.813 billion. The company has total assets of USD 65.304 billion.
Philip Morris International (PM:NYSE) also pays attractive regular dividends to its shareholders. The dividend yield is currently 5.14% per annum and the actual dividend amount has been approved by the company’s AGM at $1.30 per share. Shares of Philip Morris International Inc. According to analysts at brokerage firms and financial strategists at investment banks, the share price can be expected to rise in the short to medium term investment horizon, where the average target price of the stock has been set at $109.14 per share.
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