Philip Morris International Inc (PM) Rating Reiterated by Jefferies Group LLC
Philip Morris International Inc (NYSE:PM)‘s stock had its “hold” rating reiterated by equities researchers at Jefferies Group LLC in a research note issued to investors on Friday. They currently have a $114.00 price target on the stock. Jefferies Group LLC’s price target suggests a potential upside of 4.09% from the stock’s previous close. Jefferies Group also issued estimates for Philip Morris International’s FY2018 earnings at $5.25 EPS, FY2019 earnings at $5.76 EPS and FY2020 earnings at $5.76 EPS.
PM has been the subject of a number of other research reports. Piper Jaffray Companies set a $134.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a report on Saturday, August 19th. Goldman Sachs Group Inc upgraded shares of Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price objective for the company in a report on Thursday, September 28th. SBG Securities upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating and raised their price objective for the stock from $118.00 to $119.00 in a report on Friday, August 11th. BidaskClub upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Finally, Wells Fargo & Company restated an “outperform” rating and set a $140.00 price objective on shares of Philip Morris International in a report on Tuesday, October 10th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $125.00.
Shares of Philip Morris International (PM) traded up 1.27% on Friday, reaching $109.52. 6,177,164 shares of the company were exchanged. The company’s 50 day moving average is $113.93 and its 200 day moving average is $115.70. The firm has a market capitalization of $170.11 billion, a PE ratio of 24.27 and a beta of 0.93. Philip Morris International has a 12-month low of $86.78 and a 12-month high of $123.55.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.11). Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The company had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter last year, the business posted $1.25 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Analysts forecast that Philip Morris International will post $4.81 earnings per share for the current year.
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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 transaction of $1,624,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Suffolk Capital Management LLC purchased a new position in Philip Morris International during the second quarter valued at approximately $12,928,000. HighTower Advisors LLC grew its stake in Philip Morris International by 1.4% during the first quarter. HighTower Advisors LLC now owns 514,313 shares of the company’s stock valued at $58,076,000 after acquiring an additional 7,050 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Philip Morris International by 42.0% during the first quarter. Canada Pension Plan Investment Board now owns 2,091,110 shares of the company’s stock valued at $236,086,000 after acquiring an additional 618,100 shares in the last quarter. Swiss National Bank grew its stake in Philip Morris International by 26.2% during the first quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock valued at $646,548,000 after acquiring an additional 1,189,800 shares in the last quarter. Finally, USA Mutuals Advisors Inc. grew its stake in Philip Morris International by 2.5% during the first quarter. USA Mutuals Advisors Inc. now owns 102,500 shares of the company’s stock valued at $11,572,000 after acquiring an additional 2,500 shares in the last quarter. 72.00% of the stock is owned by 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.
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