Is This Blue Chip Income Stock a Buy?
When financial markets are especially volatile, income stocks tend to outperform the broader market.
The tobacco giant Philip Morris International (NYSE: PM) has surged around 5% higher year to date while the S&P 500 index has fallen 17% so far this year. This raises the question: Is the stock still a buy after its recent rally? Let's dive into PMI's fundamentals and valuation to find out.
Philip Morris International reported an excellent first quarter, beating the analyst consensus for both net revenue and non-GAAP (adjusted) diluted earnings per share (EPS). The company recorded $7.7 billion in net revenue in the first quarter, which represents a 2.1% growth rate over the year-ago period.
Source Fool.com
