Philip Morris International Price Target Raised to $109.00 at JPMorgan Chase & Co. (PM)
JPMorgan Chase & Co. hoisted their price target on shares of Philip Morris International (NYSE:PM) from $108.00 to $109.00 in a research note issued on Thursday, StockRatingsNetwork.com reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 24.59% from the stock’s previous close.
A number of other firms have also recently commented on PM. Analysts at Credit Agricole raised their price target on shares of Philip Morris International (NYSE:PM) from $95.00 to $100.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at TheStreet reiterated a “hold” rating on shares of Philip Morris International (NYSE:PM) in a research note to investors on Thursday, September 26th. Finally, analysts at TheStreet reiterated a “hold” rating on shares of Philip Morris International (NYSE:PM) in a research note to investors on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Philip Morris International currently has an average rating of “Buy” and a consensus price target of $95.95.
Shares of Philip Morris International (NYSE:PM) traded down 0.26% on Thursday, hitting $87.49. 3,987,739 shares of the company’s stock traded hands. Philip Morris International has a 1-year low of $82.10 and a 1-year high of $96.73. The stock has a 50-day moving average of $86.14 and a 200-day moving average of $90.22. The company has a market cap of $141.6 billion and a price-to-earnings ratio of 17.05.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, July 18th. The company reported $1.30 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.41 by $0.11. The company had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $8.22 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. On average, analysts predict that Philip Morris International will post $5.44 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 11th. Investors of record on Thursday, September 26th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Tuesday, September 24th. This is an increase from Philip Morris International’s previous quarterly dividend of $0.85.
Philip Morris International Inc (NYSE:PM) is a holding company.
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