Philip Morris International Stock Rating Reaffirmed by Zacks (PM)
Philip Morris International (NYSE:PM)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Monday, AmericanBankingNews.com reports. They currently have a $91.00 price objective on the stock. Zacks‘ target price indicates a potential upside of 4.68% from the company’s current price.
Zacks‘ analyst wrote, “Philip Morris’ third-quarter 2013 earnings of $1.44 per share beat the Zacks Consensus Estimate by 0.7% and the prior-year earnings by 4.3%. Earnings improved on the back of positive pricing. However, the company reported soft sales mainly due to currency headwinds. Revenues missed estimates and crawled by 0.1% year over year due to lower sales in Asia and Latin America, which partially offset sales growth in European Union and EEMA region. Overall, we are encouraged by the company’s strong portfolio of tobacco brands and its increasing international market share. Its foray into the field of less-harmful alternative tobacco products is in line with the changing consumer preferences. However, strict anti-smoking regulations by governments across the world and currency headwinds are matters of concern.”
PM has been the subject of a number of other recent research reports. Analysts at Nomura reiterated a “reduce” rating on shares of Philip Morris International in a research note to investors on Friday. They now have a $76.00 price target on the stock. Finally, analysts at TheStreet reiterated a “hold” rating on shares of Philip Morris International in a research note to investors on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Philip Morris International currently has an average rating of “Buy” and a consensus target price of $95.09.
Shares of Philip Morris International (NYSE:PM) traded down 0.22% during mid-day trading on Monday, hitting $86.74. The stock had a trading volume of 1,482,603 shares. Philip Morris International has a 52-week low of $82.10 and a 52-week high of $96.73. The stock has a 50-day moving average of $86.58 and a 200-day moving average of $89.78. The company has a market cap of $142.2 billion and a price-to-earnings ratio of 16.50.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, October 17th. The company reported $1.44 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.44. The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.96 billion. During the same quarter last year, the company posted $1.38 earnings per share. Philip Morris International’s revenue was up .1% compared to the same quarter last year.
Philip Morris International Inc (NYSE:PM) is a holding company.
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