Investment analysts at Piper Jaffray Companies began coverage on shares of Philip Morris International Inc. (NYSE:PM) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set an “overweight” rating on the stock.

A number of other equities research analysts have also issued reports on the company. Vetr lowered Philip Morris International from a “hold” rating to a “sell” rating and set a $111.99 price target for the company. in a research note on Monday. Jefferies Group LLC increased their price target on Philip Morris International from $111.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday. Citigroup Inc increased their price target on Philip Morris International from $107.00 to $118.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 25th. Zacks Investment Research lowered Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $118.00 price target on shares of Philip Morris International in a research note on Sunday, April 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $115.58.

Analyst Recommendations for Philip Morris International (NYSE:PM)

Philip Morris International (NYSE:PM) traded up 0.83% during trading on Wednesday, reaching $117.43. The company had a trading volume of 2,652,495 shares. The firm’s 50-day moving average price is $112.61 and its 200 day moving average price is $102.11. The firm has a market capitalization of $182.39 billion, a P/E ratio of 25.99 and a beta of 0.94. Philip Morris International has a one year low of $86.78 and a one year high of $117.59.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, April 20th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.03 by $0.05. Philip Morris International had a negative return on equity of 64.94% and a net margin of 9.30%. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. Equities analysts forecast that Philip Morris International will post $4.89 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Achmea Investment Management B.V. bought a new position in Philip Morris International during the first quarter valued at approximately $12,558,000. Gilbert & Cook Inc. raised its position in Philip Morris International by 6.7% in the first quarter. Gilbert & Cook Inc. now owns 2,701 shares of the company’s stock valued at $305,000 after buying an additional 170 shares in the last quarter. Cambridge Trust Co. raised its position in Philip Morris International by 4.2% in the first quarter. Cambridge Trust Co. now owns 7,235 shares of the company’s stock valued at $817,000 after buying an additional 290 shares in the last quarter. Bank of Nova Scotia raised its position in Philip Morris International by 914.6% in the first quarter. Bank of Nova Scotia now owns 356,756 shares of the company’s stock valued at $40,278,000 after buying an additional 321,594 shares in the last quarter. Finally, American Beacon Advisors Inc. bought a new position in Philip Morris International during the first quarter valued at approximately $114,000. Hedge funds and other institutional investors own 71.65% of the company’s stock.

About Philip Morris International

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

12 Month Chart for NYSE:PM

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