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Equities research analysts at Cowen and Company initiated coverage on shares of Philip Morris International (NYSE:PM) in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “market perform” rating on the stock.

Shares of Philip Morris International (NYSE:PM) traded down 1.31% during mid-day trading on Thursday, hitting $84.90. 5,465,471 shares of the company’s stock traded hands. Philip Morris International has a 52-week low of $75.28 and a 52-week high of $91.81. The stock’s 50-day moving average is $87.61 and its 200-day moving average is $83.7. The company has a market cap of $133.5 billion and a P/E ratio of 16.68.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, April 17th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.02. The company had revenue of $6.90 billion for the quarter, compared to the consensus estimate of $7.06 billion. During the same quarter in the previous year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, analysts predict that Philip Morris International will post $5.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, July 11th. Stockholders of record on Thursday, June 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 4.43%. The ex-dividend date of this dividend is Tuesday, June 24th.

A number of other firms have also recently commented on PM. Analysts at Zacks reiterated a “neutral” rating on shares of Philip Morris International in a research note on Thursday, May 15th. They now have a $90.00 price target on the stock. Separately, analysts at Nomura raised their price target on shares of Philip Morris International from $73.60 to $74.20 in a research note on Thursday, April 24th. They now have a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $89.33.

Philip Morris International Inc (NYSE:PM) is a holding company.

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