Philip Morris International Inc. (PM) Receives New Coverage from Analysts at Jefferies Group
Equities researchers at Jefferies Group assumed coverage on shares of Philip Morris International Inc. (NYSE:PM) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating and a $96.00 price target on the stock. Jefferies Group’s target price would indicate a potential downside of 4.62% from the stock’s current price.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research note on Tuesday. Vetr raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Tuesday, September 13th. Goldman Sachs Group Inc. raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $106.00 to $114.00 in a research note on Monday, September 12th. SBG Securities raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Wednesday, July 20th. Finally, Citigroup Inc. began coverage on shares of Philip Morris International in a research report on Tuesday, September 13th. They issued a “neutral” rating and a $106.00 target price for the company. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $104.06.
Shares of Philip Morris International (NYSE:PM) traded up 1.45% during trading on Wednesday, reaching $100.65. The company’s stock had a trading volume of 4,491,447 shares. Philip Morris International has a 12-month low of $78.03 and a 12-month high of $104.20. The company has a 50 day moving average of $99.71 and a 200-day moving average of $99.60. The stock has a market cap of $156.14 billion, a price-to-earnings ratio of 24.08 and a beta of 0.97.
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Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 19th. The company reported $1.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by $0.05. Philip Morris International had a negative return on equity of 57.28% and a net margin of 8.84%. The firm had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.77 billion. During the same period last year, the firm earned $1.21 EPS. Analysts forecast that Philip Morris International will post $4.49 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Wednesday, September 28th will be paid a $1.04 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.02. This represents a $4.16 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Monday, September 26th. Philip Morris International’s dividend payout ratio is currently 97.61%.
Several hedge funds have recently modified their holdings of PM. Emerald Acquisition Ltd. bought a new stake in shares of Philip Morris International during the second quarter worth $272,521,000. Vanguard Group Inc. raised its stake in shares of Philip Morris International by 2.6% in the second quarter. Vanguard Group Inc. now owns 99,323,022 shares of the company’s stock worth $10,103,138,000 after buying an additional 2,501,571 shares in the last quarter. State Street Corp raised its stake in shares of Philip Morris International by 3.3% in the first quarter. State Street Corp now owns 57,800,062 shares of the company’s stock worth $5,670,770,000 after buying an additional 1,821,500 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Philip Morris International during the second quarter worth $173,009,000. Finally, BlackRock Fund Advisors raised its stake in shares of Philip Morris International by 6.6% in the second quarter. BlackRock Fund Advisors now owns 25,591,100 shares of the company’s stock worth $2,603,127,000 after buying an additional 1,590,036 shares in the last quarter. 71.22% of the stock is owned by institutional investors.
Philip Morris International Company Profile
Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.
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