Philip Morris International Inc (NYSE:PM) released its quarterly earnings data on Thursday. The company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.23 by $0.09, Morningstar.com reports. The business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.11 billion. Philip Morris International had a negative return on equity of 65.44% and a net margin of 9.40%. Philip Morris International’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.15 EPS. Philip Morris International updated its FY17 guidance to $4.78-4.93 EPS.

Shares of Philip Morris International (NYSE PM) traded down 2.35% during midday trading on Thursday, hitting $118.76. 1,688,202 shares of the company’s stock traded hands. The firm has a market capitalization of $184.45 billion, a price-to-earnings ratio of 26.29 and a beta of 0.94. The company has a 50 day moving average price of $119.65 and a 200 day moving average price of $110.33. Philip Morris International has a 1-year low of $86.78 and a 1-year high of $123.55.

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 11th. Shareholders of record on Friday, June 23rd were paid a $1.04 dividend. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $4.16 annualized dividend and a dividend yield of 3.42%. Philip Morris International’s payout ratio is currently 92.04%.

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PM has been the topic of several research reports. Jefferies Group LLC reiterated a “hold” rating and set a $104.00 price objective on shares of Philip Morris International in a research note on Friday, March 24th. Zacks Investment Research upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research note on Wednesday, March 29th. Barclays PLC increased their price objective on shares of Philip Morris International from $108.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 29th. Vetr upgraded shares of Philip Morris International from a “strong sell” rating to a “sell” rating and set a $103.84 price objective on the stock in a research note on Wednesday, March 29th. Finally, Cowen and Company reiterated an “outperform” rating and set a $120.00 price objective on shares of Philip Morris International in a research note on Wednesday, April 19th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $118.29.

A number of institutional investors have recently made changes to their positions in the stock. Gradient Investments LLC increased its position in shares of Philip Morris International by 76.1% in the first quarter. Gradient Investments LLC now owns 986 shares of the company’s stock worth $111,000 after buying an additional 426 shares in the last quarter. Welch Investments LLC bought a new position in shares of Philip Morris International during the first quarter worth $113,000. American Beacon Advisors Inc. bought a new position in shares of Philip Morris International during the first quarter worth $114,000. Acropolis Investment Management LLC bought a new position in shares of Philip Morris International during the first quarter worth $117,000. Finally, Gemmer Asset Management LLC increased its position in shares of Philip Morris International by 40.6% in the first quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock worth $126,000 after buying an additional 322 shares in the last quarter. 72.31% of the stock is owned by hedge funds and other institutional investors.

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.

Earnings History for Philip Morris International (NYSE:PM)

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