Philip Morris International Downgraded to Reduce at Nomura (PM)
Philip Morris International (NYSE:PM) was downgraded by stock analysts at Nomura to a “reduce” rating in a report issued on Thursday, American Banking News.com reports.
Philip Morris International (NYSE:PM) traded up 1.30% during mid-day trading on Thursday, hitting $85.25. 2,772,048 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’s 50-day moving average is $86.17 and its 200-day moving average is $90.05. The company has a market cap of $138.0 billion and a price-to-earnings ratio of 16.35.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, July 18th. The company reported $1.30 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $1.36 earnings per share. Philip Morris International’s revenue was down 2.5% compared to the same quarter last year. On average, analysts predict that Philip Morris International will post $5.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 11th. Shareholders 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 4.47%. The ex-dividend date of this dividend is Tuesday, September 24th. This is a positive change from Philip Morris International’s previous quarterly dividend of $0.85.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “hold” rating on shares of Philip Morris International in a research note to investors on Tuesday. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $108.00 to $109.00 in a research note to investors on Thursday, October 3rd. They now have a “neutral” rating on the stock. Finally, analysts at Credit Agricole raised their price target on shares of Philip Morris International from $95.00 to $100.00 in a research note to investors on Wednesday, October 2nd. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $96.23.
Philip Morris International Inc (NYSE:PM) is a holding company.
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