|Bid||84.64 x 800|
|Ask||84.64 x 800|
|Day's range||84.07 - 84.94|
|52-week range||69.27 - 92.74|
|Beta (5Y monthly)||1.03|
|PE ratio (TTM)||17.65|
|Earnings date||05 Feb 2020|
|Forward dividend & yield||4.68 (5.52%)|
|Ex-dividend date||17 Dec 2019|
|1y target est||94.27|
Philip Morris (PM) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Philip Morris International Inc. (PMI) (NYSE: PM) today announced that it has won the 2020 BIG Innovation Award in the "Organization" category. The company was honored for placing innovation front and center as it continues its full-scale business transformation to deliver a smoke-free future and replace cigarettes with better alternatives for those adults who would otherwise continue to smoke.
As it continues to advocate for greater transparency, objective examination of the science and open debate in creating the right regulation for smoke-free alternatives, Philip Morris International Inc. (PMI) (NYSE:PM) today released a new white paper titled, "Unsmoke Your Mind: Pragmatic Answers to Tough Questions for a Smoke-Free Future" at a press conference in Davos. Based on an independent survey—commissioned by PMI and conducted by Povaddo among 17,251 adults aged 21-74 across 14 countries—the paper examines public opinions of the regulatory, scientific and corporate landscape as PMI focuses on advancing smoke-free products to replace cigarettes as soon as possible.
Philip Morris International Inc. (PMI) (NYSE: PM) was recognized today among the top global companies leading on climate action. Environmental nonprofit CDP, formerly Carbon Disclosure Project, has placed PMI on its ‘A List’ for climate change for the sixth year in a row, recognizing the company’s work to reduce its energy use and carbon emissions and to follow a transparent disclosure process. At the end of 2019, PMI was also recognized for its leadership role in addressing the climate crisis by the "50 Sustainability and Climate Leaders" initiative.
Philip Morris' (PM) performance is bearing adverse impacts of declining cigarette sales volume. However, expansion in RRPs and strong pricing are significant upsides.
Philip Morris International Inc. (PMI) (NYSE: PM) has been recognized among this year’s most awarded winners in the One Planet Awards program, an initiative acknowledging business and professional excellence in industries around the world. The company earned four awards for its achievements in delivering a smoke-free future from the more than 50 judges, who represent a wide spectrum of global industry experts.
Philip Morris International Inc. (NYSE:PM) saw a double-digit share price rise of over 10% in the past couple of...
Philip Morris International Inc. (PMI) (NYSE: PM) is being recognized as one of 50 global sustainability leaders from the international business community in a new documentary film project called "50 Sustainability and Climate Leaders," available on www.50climateleaders.com. PMI’s inclusion, alongside other leading organizations, is recognition of the ways in which the company is viewing its ambitious business transformation through a sustainability lens that encompasses its impact on society and the environment. For PMI, sustainability means creating long‑term value while minimizing the negative externalities associated with its products, operations and value chain.
(Bloomberg) -- Juul Labs Inc. had a tough 2019. In 2020, a new breed of vaping startups aim to learn from their biggest rival’s plight—and take on big tobacco.Would-be pretenders to Juul’s throne have watched as the company’s easy-to-conceal devices became immensely popular with teens, leading regulators to fear Juul could addict a new generation to nicotine. Several companies believe they have come up with technological and regulatory approaches that will avoid Juul’s troubles and potentially disrupt both the tobacco and cannabis industries. Here’s a look at some of the challengers:Related: More Evidence Links Vaping Lung Injuries to Vitamin E Acetate The Heating InnovatorRespira is part of a crop of promising startups coming out of the medical-device industry. The West Hollywood, California-based company has an ultrasonic method that vaporizes tobacco or cannabis, thus avoiding the heating process that can create new carcinogens. Because the U.S. Food and Drug Administration requires tobacco companies to report “harmful and potentially harmful constituents,” that should be an advantage from a regulatory standpoint, according to Brian Quigley, co-founder of consulting firm Green Sky Strategy, and an investor and adviser for Respira.“For science and safety, the whole industry had a wake-up call on VapeGate,” says Quigley, referring to last year’s epidemic of lung illnesses. While the illnesses added fuel to the vaping fire, they were later blamed on additives like vitamin E used in illicit cannabis vaping. U.S. public health officials haven’t definitively connected the outbreak to any one device or e-liquid product.Mario Danek, who founded Respira in 2018, says he thinks the vape industry is going to be reshaped by devices that work with both cannabis and nicotine—as well as substances from the pharmaceutical world. Respira is working on potential agreements to license its technology in all three categories in 2020.“Whereas the e-nicotine community started with what would be cool and palatable, and tried to work its way into reduced risk for health and safety, we started with efficacy and safety and then went into pleasure and what the consumer might want,” he says.The NaturalistCannabis Technology House is an Israeli startup founded by former Altria employees. The company plans to start selling its devices in 2020. It says its devices won’t have the health concerns that come with vape liquids.The devices have also been designed to work with natural tobacco—something that would compete with IQOS, a heat-not-burn device for tobacco only that’s been sold by Philip Morris International Inc. around the world for years and just launched in the U.S. with marketing by Altria Group Inc., which also owns a 35% stake in Juul.“People told us we’re crazy to go after natural flowers; the future is with vape. And then the vaping crisis happened,” says Greg Kunin, the company’s co-founder. Its devices heat but don’t burn the original form of cannabis. “Because its natural, no one can add anything to it,” he says. “The consumer doesn’t have to worry if there is Vitamin E or some other substance.”Altria and Juul both declined to comment for this story.Like big tobacco, Kunin says the company’s regulatory strategy will be international. It won’t start in Israel, where recreational cannabis isn’t legal. It has a two-pronged approach: If it decides to market its device first for tobacco, it is already in talks with two big tobacco players and will work with one of them, probably starting in Asia—the Philippines or Japan. Meanwhile, with cannabis, its regulatory strategy might have it start in Canada, come to the U.S. later and work with the FDA to “develop socially responsible products.”Such approaches are popular among startups, Green Sky Strategy’s Quigley says. “Portugal is viewed to be on the pro-cannabis side, and there’s a lot happening in Mexico where medical marijuana is legal.”Thinking through regulation, Kunin says, is just as important as coming up with a solid product. “If you don’t get the right balance you can have the Juul effect—it was crazy successful then the regulation came and it all stopped.”Though Juul has curtailed its marketing and withdrew its flavored products before a federal ban last week, it has remained a punching bag for vaping foes and a financial albatross for Altria, which was forced to write down its stake in the company last year.The Cryptologist Airgraft, based in Montreal, started working on a solution to black market products and liquids even before Juul’s troubles surfaced because its staff had a background in the medical device world and could see such problems were inevitable, says founder and chief executive Mladen Barbaric.He says he knew that crystallization of liquids was an issue in vape technology that people would try to combat with vitamin E oil and MCT oil. Airgraft, which launched in September, has what it calls a “securepod” which is encrypted to let the company trace where it was filled.It works with oil-filling partners who must upload certificates of analysis from a government-certified lab, and the device gets disabled after the 0.5 grams of oil in it has been consumed. The technology also lets them notify users and do a recall if a problem is found with the oil after it’s dispensed.‘Big Year’Many companies in what’s estimated to be a $24 billion vape industry want to make technological changes to current devices to avoid the kind of problems Juul has been through, but can’t because they would require a new, expensive regulatory review, says Tony Abboud, executive director of the lobbying group Vapor Technology Association. In the U.S., any product not already on the market as of 2016 needs to go through a rigorous FDA authorization process.The innovations come as traditional cigarettes are expected to continue faltering while cannabis sees more breakthroughs.“2020 will be another big year for transformation,” Cowen analyst Vivien Azer said in a December research note on the cannabis business. She predicts that Illinois, where legal pot sales began Jan. 1., and Michigan, where sales began Dec. 1, could both expand the nascent market by billions of dollars. Meanwhile, the tobacco industry, which Azer also covers, has seen about two years of declining sales volumes.Some startups are even learning from Juul’s woes to innovate in the old school cigarette category. In December, the FDA authorized the sale of two new low-nicotine cigarettes from New York-based 22nd Century Group Inc. Its shares rose 28% that day.Michael R. Bloomberg has campaigned and given money in support of a ban on flavored e-cigarettes and tobacco. He is the majority owner of Bloomberg LP, the parent company of Bloomberg News, and has entered the Democratic presidential race. To contact the author of this story: Tiffany Kary in New York at email@example.comTo contact the editor responsible for this story: Sally Bakewell at firstname.lastname@example.org, Lisa WolfsonTimothy AnnettFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
The Zacks Analyst Blog Highlights: Facebook, Alibaba, Mastercard, Abbott Laboratories and Philip Morris International
(Bloomberg Opinion) -- The next big thing for big tobacco has turned into a bit of a nightmare. Vaping took off as a potentially healthier alternative to smoking for adults looking to kick the habit. But then it caught on with a whole new generation, sparking a teen epidemic in the U.S and fears that they could graduate to smoking traditional cigarettes. Matters worsened with a spate of illnesses among some users of electronic cigarettes, raising questions about the safety of vaping for young and old.In the U.K., the fallout from declining sales of tobacco alternatives across the Atlantic has hit British American Tobacco Plc and Imperial Brands Plc hard. Now as new management teams at both companies try to figure out what’s the best strategy back to growth, their fortunes will be driven more by regulations in the U.S. than their business closer to home. But this doesn’t have to be bad news. Heightened scrutiny in the U.S. can dispel concerns about safety, and eventually pave the way for companies to expand their vaping technology to devices that deliver cannabis, vitamins and medicines. Vaping first came under scrutiny for its appeal to teenagers. Altria Group Inc.-backed Juul Labs Inc., has been besieged by lawsuits accusing it of using sweet fruit and candy flavors to overtly target under-aged users. The situation escalated over the summer, after a spate of illnesses and deaths related to electronic-cigarette use. ECigIntelligence, a data provider, now forecasts a 13% decline in the U.S. vaping market in 2020. Previously it had forecast an increase of more than 10%.As the world’s biggest vaping market, accounting for about 45% of global sales in 2019, it’s little wonder the U.S. slowdown is hurting. Imperial, which sells Winston cigarettes in the U.S., warned on profit in September, and parted company with its chief executive officer, Alison Cooper, a week later. BAT, maker of Dunhill and Lucky Strike cigarettes, recently said sales growth from its new generation products would be at the lower end of its forecast range of 30%-50%. A few months earlier, it had guided to the midpoint.With the scrutiny of vaping, having a broad-based portfolio of tobacco alternatives is crucial. Here BAT is well placed, having invested $4 billion over the past five years. Seven months since becoming CEO, Jack Bowles has reorganized its alternatives into three global brands: Glo for heated tobacco, Vuse for vaping and Velo for oral nicotine products. That shows commitment and urgency. It’s still not clear which category, if any, will be the winner, so having options on each is wise.Vaping probably has the most long-term potential. In the meantime, heat not burn options may come to prominence, especially as they haven’t been drawn into the controversy. They’re already popular in Japan, but with Philip Morris International Inc. now selling its IQOS device in the U.S. too, BAT may need to spend more in this area.The $49 billion purchase of the shares it did not already own in Reynolds American Inc. in 2017 stretched BAT’s balance sheet, pushing net debt to more than 6 times Ebitda. But leverage has come down to around 3.5 times, according to an estimate by Bloomberg Intelligence analyst Duncan Fox. That’s still high, but it gives Bowles more scope to invest and pay the dividend.Rival Imperial has made a big bet on vaping with its Blu brand, while it also has a strong position in oral tobacco. But it was late into heat not burn, only launching Pulze in Japan in May. Whoever succeeds Cooper as CEO will need to decide whether to expand in this category, or double down on vaping. Either way, it will mean more investment. For that, the new CEO can draw on the cash generated by the traditional cigarette business, an up to 2 billion-pound asset disposal program and a new dividend policy. The company will return any additional cash to shareholders through buy-backs. It should divert at least some of this into tobacco alternatives instead.Both companies should take care not to create a teen vaping craze at home. After complaints from the Campaign for Tobacco-Free Kids and other organizations, the U.K.’s advertising regulator this month banned BAT from using public Instagram accounts to promote smoking alternatives like e-cigarettes. However, it didn’t find that the company had designed ads specifically to target youth.At least investment decisions could be made against a calmer market backdrop in the U.S. There’s a growing consensus that the vaping-related illnesses and deaths involved vaping oils carrying the psychoactive ingredient in cannabis, tetrahydrocannabinol or THC. The U.S. Food and Drug Administration has warned against using black-market products.In 2020, new U.S. regulations will require companies to submit applications by May to keep their e-cigarettes on the market. Big tobacco has the resources to go through this complicated and expensive process. Smaller producers may not. Over about the next 12 months, this regime could reduce some of the competitive pressures on big tobacco. But in both tobacco and newer alternatives, it’s not going to be plain sailing. Numerous U.S. states have outlawed some kinds of e-cigarettes, and although a federal ban on vape flavors aside from tobacco now looks less likely after backtracking by President Donald Trump, it can’t be ruled out. Meanwhile, at some point, U.S. regulators may return their attention to efforts to reduce the amount of nicotine and ban menthol flavors in traditional cigarettes, bringing more pain to what remains tobacco companies’ biggest and most profitable segment by far. (Michael Bloomberg, founder and majority owner of Bloomberg News parent Bloomberg LP, has campaigned for and given money in support of a nationwide ban in the U.S. on flavored e-cigarettes and tobacco.)Pressure there, and everywhere, could bring more industry hook ups. Philip Morris International and Altria in September ended their brief merger flirtation. Such talks could always come back onto the agenda again or the two may look abroad. Imperial has long been seen as a takeover target, with Japan Tobacco Inc. considered the most likely buyer. A new Imperial CEO may walk in the door only to find that there is a predator hard on the company’s heels.To contact the author of this story: Andrea Felsted at email@example.comTo contact the editor responsible for this story: Melissa Pozsgay at firstname.lastname@example.orgThis 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/opinion©2019 Bloomberg L.P.
Sysco (SYY) announces a 15% hike in its quarterly dividend, taking it from 39 cents a share to 45 cents. This marks the 51st hike for the company.