Earnings Preview for Phillip Morris

Published on Wednesday, 08 February 2012 12:42 Written by Christian Paolinetti

New York, February 8^th (TradersHuddle.com) – Phillip Morris (NYSE: PM), the tobacco company maker of Marlboro cigarettes, was falling 0.32% to $77.35. The company is schedule to report its quarterly results on February 9^th ahead of the opening bell.

On average analysts expect earnings of $1.09 per share on revenues of $7.37 billion. Last quarter the company posted a 10.5% upside surprise, as it earned $1.37 per share. The highest earnings estimate is $1.26 per share, while last year earnings for the same period were $0.97 per share.

Philip Morris has fallen more than 1.4% so far this year, after posting a new 52-week high of $79.96 earlier in the year. Last month, brokerage houses had different views on the stock. On one hand Credit Agricole initiated new coverage on the stock with Outperform, while Goldman Sachs downgraded it to a Neutral.