Philip Morris International Inc ($PM) Stock Forecast: Down 3.5% Today

What is Philip Morris International Inc?

Philip Morris (PM) is a multinational cigarette and tobacco manufacturing company, known for its popular cigarette brands like Marlboro. The consumer staples sector, to which PM belongs, typically consists of non-cyclical stocks that are considered defensive in nature.

Why is Philip Morris International Inc going down?

PM stock is down 3.5% on Nov 6, 2024 15:46

• PM experienced a significant bearish trend today despite a recent 8.03% gain.
• When compared to Freshpet (FRPT) in the consumer staples sector, PM's performance indicated a relative underperformance, leading to the bearish market movement.
• There is a potential reassessment of PM as a top stock choice for momentum investors, possibly due to concerns regarding the long-term viability of tobacco products in a health-conscious environment.

PM Price Chart

PM Technical Analysis

PM News

Are Consumer Staples Stocks Lagging Freshpet ( FRPT ) This Year?

Here is how Freshpet (FRPT) and Philip Morris (PM) have performed compared to their sector so far this year.

https://www.zacks.com/stock/news/2363411/are-consumer-staples-stocks-lagging-freshpet-frpt-this-year

Philip Morris ( PM ) Is Up 8.03% in One Week: What You Should Know

Does Philip Morris (PM) have what it takes to be a top stock pick for momentum investors? Let's find out.

https://www.zacks.com/stock/news/2362816/philip-morris-pm-is-up-803-in-one-week-what-you-should-know

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Philip Morris International Inc Price History

22.09.2024 - PM Stock was up 8.4%

• Philip Morris International Inc. (PM) experienced a bullish movement today following its strong Q3 performance and upbeat annual forecast.
• The company reported better-than-expected third-quarter earnings, with revenue up 8.4% year over year, exceeding consensus estimates.
• The bullish stance taken by smart money investors on Philip Morris Intl options also contributed to the positive market sentiment surrounding the stock.
• Overall, the optimistic financial results and investor confidence in the company's future outlook likely fueled the bullish movement in PM's stock price today.

22.09.2024 - PM Stock was up 10.4%

• Philip Morris' stock saw significant growth today, reaching new record levels, largely driven by the rising popularity of its smokeless offerings, particularly Zyn.
• The company exceeded expectations with its Q3 earnings, prompting an upward revision of its 2024 guidance, boosting investor confidence and elevating the stock price.
• Investor sentiment towards Philip Morris remains positive, reflected in the market's reaction to the company's strong performance, especially in the smokeless product category, driving the stock's impressive upsurge.

06.10.2024 - PM Stock was down 3.5%

• PM experienced a significant bearish trend today despite a recent 8.03% gain.
• When compared to Freshpet (FRPT) in the consumer staples sector, PM's performance indicated a relative underperformance, leading to the bearish market movement.
• There is a potential reassessment of PM as a top stock choice for momentum investors, possibly due to concerns regarding the long-term viability of tobacco products in a health-conscious environment.

22.09.2024 - PM Stock was up 5.3%

• Smart money investors are displaying a strong bullish stance on Philip Morris Intl options, displaying confidence in the company’s future performance.
• The rise in bullish options trades might indicate positive expectations for PM’s financial results or strategic actions in the near term.
• This increase in bullish activity could result in heightened buying pressure on PM's stock, pushing its price up during the trading day.

06.05.2024 - PM Stock was down 1.4%

• Philip Morris International's bearish movement could be attributed to the mixed reactions to its revised 2024 earnings outlook despite expecting growth, which may have raised concerns among investors.
• Elon Musk's criticism of ESG scores and the impact on Tesla's rating could have also influenced market sentiment, indirectly affecting other companies like Philip Morris International.
• Despite topping Forbes' 2024 Net Zero Leaders List, PM's stock may have been impacted by broader market trends and investor focus on high-yield dividend stocks, shifting attention away from traditional tobacco companies.
• The presentation at the Deutsche Bank Global Consumer Conference might not have provided enough reassurance to investors, leading to a sell-off in PM stock as they seek more concrete growth strategies amidst changing market dynamics.

28.05.2023 - PM Stock was down 1.5%

• The bearish movement in PM's stock today can be attributed to a combination of factors:
• 1. Illicit Cigarette Market: The study by KPMG revealing alarming levels of illicit cigarettes in the EU, with France accounting for a significant portion, may have raised concerns about the company's sales and market share in the region. This news could have negatively impacted investor sentiment.
• 2. Market Performance: The overall market gains and dips mentioned in the articles may have influenced PM's stock movement to some extent. A slight dip in the market could have contributed to the bearish movement, while a small gain on another day might have provided some support.
• 3. Political Unrest in Russia: Although not directly related to PM, the mention of the company in an article about Russian insurrection could have created some uncertainty or negative sentiment among investors. Political instability in a key market like Russia can have implications for multinational companies operating there.
• 4. Analyst Recommendation: Morgan Stanley's endorsement of PM as a top pick in the food and tobacco sector might have provided some positive sentiment, but it may not have been enough to counter the other factors influencing the bearish movement.
• Overall, the bearish movement in PM's stock today can be attributed to concerns about the illicit cigarette market in the EU, market performance, and potential implications of political unrest in Russia.

25.06.2023 - PM Stock was down 1.8%

• The bearish movement in Philip Morris stock today could be attributed to the following factors:
• 1. Overvaluation concerns: an article from Investor Place highlights the potential risks of investing in high-yield dividend stocks that may be overvalued. Philip Morris, with its high valuation (28.75 times forward earnings), could be seen as one of these overvalued stocks. Investors may have become cautious about the stock's future performance, leading to selling pressure.
• 2. Mixed market sentiment: Despite Philip Morris posting an exceptional Q2 report, beating Wall Street's estimates, an article from TipRanks and one from GuruFocus do not provide any specific positive catalysts. This lack of additional positive news may have contributed to a more cautious sentiment among investors.
• 3. Geopolitical tensions: an article from Zero Hedge discusses Russia's seizure of assets belonging to Western companies, including Carlsberg beer. Although not directly related to Philip Morris, geopolitical tensions and potential economic repercussions can create a broader sense of uncertainty in the market, affecting various stocks, including PM.
• Overall, the bearish movement in Philip Morris stock today may be influenced by concerns about overvaluation, mixed market sentiment, and broader geopolitical tensions.

25.06.2024 - PM Stock was down 3.5%

• Despite reaching a 52-week high and receiving a raised stock price target due to strong earnings, Philip Morris Intl (PM) witnessed a bearish movement.
• The bearish trend, potentially influenced by investors with significant capital, drove the market activity.
• The robust demand for smokeless products and surpassing earnings projections may not have sufficiently countered the bearish outlook of institutional or wealthy individual investors.
• The mixed signals from the 52-week high and today's bearish movement suggest a nuanced market sentiment towards PM.