Philip Morris International Inc (PM) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Philip Morris International Inc (NYSE:PM) have been given a consensus recommendation of “Buy” by the seventeen analysts that are presently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $122.00.
PM has been the topic of several recent analyst reports. SBG Securities upgraded Philip Morris International from a “sell” rating to a “hold” rating and increased their target price for the company from $118.00 to $119.00 in a research note on Friday, August 11th. Berenberg Bank set a $96.00 target price on Philip Morris International and gave the company a “hold” rating in a research note on Saturday, June 24th. Cowen and Company reiterated a “buy” rating on shares of Philip Morris International in a research note on Sunday. BidaskClub downgraded Philip Morris International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Bank of America Corporation increased their target price on Philip Morris International from $120.00 to $123.00 and gave the company a “neutral” rating in a research note on Tuesday, May 30th.
In related news, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total value of $1,624,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Philip Morris International by 2.7% during the second quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock worth $13,092,759,000 after purchasing an additional 2,972,929 shares in the last quarter. BlackRock Inc. increased its position in shares of Philip Morris International by 2.7% during the second quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock worth $10,781,538,000 after purchasing an additional 2,421,533 shares in the last quarter. State Street Corp increased its position in shares of Philip Morris International by 1.8% during the first quarter. State Street Corp now owns 59,926,871 shares of the company’s stock worth $6,766,079,000 after purchasing an additional 1,058,408 shares in the last quarter. FMR LLC increased its position in shares of Philip Morris International by 12.5% during the second quarter. FMR LLC now owns 20,919,201 shares of the company’s stock worth $2,456,960,000 after purchasing an additional 2,330,864 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Philip Morris International by 2.9% during the second quarter. Legal & General Group Plc now owns 7,422,457 shares of the company’s stock worth $871,687,000 after purchasing an additional 210,869 shares in the last quarter. 72.01% of the stock is currently owned by institutional investors and hedge funds.
Shares of Philip Morris International (PM) traded down 0.36% during midday trading on Friday, reaching $112.51. The company’s stock had a trading volume of 2,998,988 shares. The stock has a 50-day moving average price of $116.11 and a 200-day moving average price of $115.73. Philip Morris International has a 52-week low of $86.78 and a 52-week high of $123.55. The stock has a market cap of $174.75 billion, a price-to-earnings ratio of 24.93 and a beta of 0.94.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.09). Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The company had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $7.11 billion. During the same period last year, the business earned $1.15 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts anticipate that Philip Morris International will post $4.83 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Wednesday, September 27th will be paid a $1.07 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Tuesday, September 26th. This represents a $4.28 dividend on an annualized basis and a yield of 3.80%. Philip Morris International’s payout ratio is 92.24%.
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.
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