Philip Morris International Inc (NYSE:PM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “Phillip Morris continued with its drab performance in third-quarter 2017, wherein both earnings and revenues lagged the Zacks Consensus Estimate. While the company has been benefiting from enhanced volumes and revenues in the reduced risk products category, it suffered majorly due to consistent declines in cigarette volumes stemming from the shift of customer preference away from tobacco products. Government regulations concerning the manufacturing and marketing of tobacco products have also been hampering Philip Morris’ growth. Additionally, unfavorable currency movements remain a headwind. All these factors compelled management to lowered its 2017 view. Nevertheless, Philip Morris’ consistent efforts to improve the performance of its low risk products remain encouraging.While Philip Morris has seen its shares decline 7.2% in the past three months, its performance has been nearly in line with the industry.”

Other analysts also recently issued research reports about the stock. Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday. TheStreet raised shares of Philip Morris International from a “c+” rating to a “b-” rating in a research report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $133.00 price target (down previously from $134.00) on shares of Philip Morris International in a research report on Saturday, July 22nd. Cowen and Company reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Sunday, September 24th. Finally, BidaskClub cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $124.62.

Philip Morris International (NYSE:PM) traded down 0.57% during midday trading on Tuesday, reaching $108.74. The company’s stock had a trading volume of 598,349 shares. The company’s 50-day moving average is $113.69 and its 200 day moving average is $115.71. 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 $168.89 billion, a price-to-earnings ratio of 24.09 and a beta of 0.93.

Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, October 19th. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.11). The company had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.75 billion. Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. Equities analysts forecast that Philip Morris International will post $4.77 earnings per share for the current year.

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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 transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.23% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB increased its stake in shares of Philip Morris International by 3.5% during the third quarter. Xact Kapitalforvaltning AB now owns 126,382 shares of the company’s stock worth $14,030,000 after acquiring an additional 4,321 shares during the period. Independent Franchise Partners LLP increased its stake in shares of Philip Morris International by 2.2% during the third quarter. Independent Franchise Partners LLP now owns 3,795,007 shares of the company’s stock worth $421,283,000 after acquiring an additional 79,952 shares during the period. Nationwide Fund Advisors increased its stake in shares of Philip Morris International by 11.6% during the third quarter. Nationwide Fund Advisors now owns 702,271 shares of the company’s stock worth $77,959,000 after acquiring an additional 72,976 shares during the period. Advisors Capital Management LLC increased its stake in shares of Philip Morris International by 0.8% during the third quarter. Advisors Capital Management LLC now owns 154,902 shares of the company’s stock worth $17,196,000 after acquiring an additional 1,254 shares during the period. Finally, Fox Run Management L.L.C. increased its stake in shares of Philip Morris International by 1,026.3% during the third quarter. Fox Run Management L.L.C. now owns 21,400 shares of the company’s stock worth $2,376,000 after acquiring an additional 19,500 shares during the period. Institutional investors and hedge funds own 71.97% of the company’s stock.

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.

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Analyst Recommendations for Philip Morris International (NYSE:PM)

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