Credit Agricole Increases Philip Morris International Price Target to $92.00 (PM)
Credit Agricole hoisted their price target on shares of Philip Morris International (NYSE:PM) from $90.00 to $92.00 in a research note issued on Friday. The firm currently has an “outperform” rating on the stock. Credit Agricole’s target price would suggest a potential upside of 8.36% from the stock’s previous close.
A number of other analysts have also recently weighed in on PM. Analysts at Cowen and Company initiated coverage on shares of Philip Morris International in a research note on Thursday. They set a “market perform” rating and a $91.00 price target on the stock. Separately, 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. Finally, 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 issued a hold rating and six have given a buy rating to the company. Philip Morris International has a consensus rating of “Hold” and an average target price of $89.54.
Shares of Philip Morris International (NYSE:PM) traded up 0.14% during mid-day trading on Friday, hitting $85.02. The stock had a trading volume of 1,988,550 shares. Philip Morris International has a 1-year low of $75.28 and a 1-year 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 $133.7 billion and a price-to-earnings ratio of 16.46.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, April 17th. The company reported $1.19 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.29 earnings per share. The company’s quarterly revenue was down 8.8% on a year-over-year basis. Analysts expect that Philip Morris International will post $5.14 EPS 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.
Philip Morris International Inc (NYSE:PM) is a holding company.
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