Philip Morris International Inc (NYSE:PM) – Equities researchers at Jefferies Group decreased their FY2018 earnings per share estimates for shares of Philip Morris International in a report released on Friday. Jefferies Group analyst O. Bennett now forecasts that the company will post earnings of $5.25 per share for the year, down from their previous forecast of $5.48. Jefferies Group currently has a “Hold” rating and a $114.00 target price on the stock. Jefferies Group also issued estimates for Philip Morris International’s FY2019 earnings at $5.76 EPS and FY2020 earnings at $5.76 EPS.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.11). Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The firm had revenue of $7.50 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter last year, the company earned $1.25 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis.

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A number of other brokerages have also commented on PM. TheStreet upgraded shares of Philip Morris International from a “c+” rating to a “b-” rating in a report on Thursday, July 20th. Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Citigroup Inc. restated a “neutral” rating and set a $125.00 price objective (down from $128.00) on shares of Philip Morris International in a report on Monday, July 24th. Finally, Bank of America Corporation dropped their price objective on shares of Philip Morris International from $124.00 to $121.00 and set a “neutral” rating on the stock in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $124.62.

Philip Morris International (NYSE PM) opened at 109.52 on Monday. The stock’s 50 day moving average is $113.93 and its 200-day moving average is $115.70. Philip Morris International has a 12 month low of $86.78 and a 12 month high of $123.55. The firm has a market cap of $170.11 billion, a price-to-earnings ratio of 24.27 and a beta of 0.93.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Philip Morris International by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock valued at $13,092,759,000 after buying an additional 2,972,929 shares during the last quarter. BlackRock Inc. grew its position in shares of Philip Morris International by 2.7% in the 2nd quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock valued at $10,781,538,000 after acquiring an additional 2,421,533 shares during the period. State Street Corp grew its position in shares of Philip Morris International by 1.8% in the 1st quarter. State Street Corp now owns 59,926,871 shares of the company’s stock valued at $6,766,079,000 after acquiring an additional 1,058,408 shares during the period. FMR LLC grew its position in shares of Philip Morris International by 12.5% in the 2nd quarter. FMR LLC now owns 20,919,201 shares of the company’s stock valued at $2,456,960,000 after acquiring an additional 2,330,864 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Philip Morris International by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 7,422,457 shares of the company’s stock valued at $871,687,000 after acquiring an additional 210,869 shares during the period. Hedge funds and other institutional investors own 72.00% of the company’s stock.

In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of Philip Morris International stock in a transaction 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 document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is currently owned by insiders.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th were paid a $1.07 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 annualized dividend and a yield of 3.91%. The ex-dividend date was Tuesday, September 26th. Philip Morris International’s payout ratio is presently 94.48%.

Philip Morris International Company Profile

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 and Estimates for Philip Morris International (NYSE:PM)

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