Philip Morris International (PM) – Investment Analysts’ Weekly Ratings Updates
A number of firms have modified their ratings and price targets on shares of Philip Morris International (NYSE: PM) recently:
- 9/21/2016 – Philip Morris International is now covered by analysts at Jefferies Group. They set a “hold” rating and a $96.00 price target on the stock.
- 9/20/2016 – Philip Morris International was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $111.00 price target on the stock. According to Zacks, “There have been slight upward revision in estimates after Philip Morris posted mixed results in the first half of 2016. Though earnings and sales declined year over year, the results showed improvement upon excluding unfavorable currency impact. The improvement was backed by strong pricing power and better-than-expected volume growth. The extended agreement with Altria regarding the technology sharing and distribution of e-vapor products is also commendable. The company’s unconventional cigarette iQOS (device that provides nicotine hit by heating tobacco instead of burning it) launched nationwide also received favorable response. Moreover, Philip Morris is increasing its foothold in emerging markets through strategic buyouts. However, strict anti-smoking regulations by governments across the world and currency headwinds remain concerns.”
- 9/15/2016 – Philip Morris International had its “outperform” rating reaffirmed by analysts at Wells Fargo & Co..
- 9/13/2016 – Philip Morris International is now covered by analysts at Citigroup Inc.. They set a “neutral” rating and a $106.00 price target on the stock.
- 9/13/2016 – Philip Morris International was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $110.00 price target on the stock.
- 9/12/2016 – Philip Morris International was upgraded by analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating. They now have a $114.00 price target on the stock, up previously from $106.00.
Philip Morris International Inc. (NYSE:PM) traded up 0.02% during trading on Wednesday, hitting $99.23. 1,566,466 shares of the company were exchanged. Philip Morris International Inc. has a 1-year low of $78.03 and a 1-year high of $104.20. The stock has a market capitalization of $153.94 billion, a PE ratio of 23.74 and a beta of 0.97. The firm’s 50 day moving average price is $99.71 and its 200-day moving average price is $99.60.
Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, July 19th. The company reported $1.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by $0.05. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.77 billion. Philip Morris International had a negative return on equity of 57.28% and a net margin of 8.84%. During the same period in the previous year, the company earned $1.21 earnings per share. Equities analysts predict that Philip Morris International Inc. will post $4.49 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Wednesday, September 28th will be paid a $1.04 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.02. This represents a $4.16 annualized dividend and a yield of 4.19%. The ex-dividend date is Monday, September 26th. Philip Morris International’s dividend payout ratio is currently 97.61%.
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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