Jefferies Group Upgrades Philip Morris International (PM) to Buy

Philip Morris International (NYSE:PM) was upgraded by analysts at Jefferies Group from a “hold” rating to a “buy” rating in a report issued on Friday, Marketbeat Ratings reports. The firm presently has a $124.00 price objective on the stock. Jefferies Group’s target price suggests a potential upside of 13.85% from the company’s current price.

Several other research analysts also recently issued reports on PM. Citigroup cut their price objective on Philip Morris International from $117.00 to $114.00 and set a “neutral” rating for the company in a research report on Tuesday. Piper Jaffray Companies reiterated an “overweight” rating and issued a $137.00 price target (up from $130.00) on shares of Philip Morris International in a report on Thursday, January 11th. Cowen reiterated a “buy” rating on shares of Philip Morris International in a report on Sunday, September 24th. Goldman Sachs Group initiated coverage on Philip Morris International in a report on Monday, October 2nd. They issued a “buy” rating for the company. Finally, Societe Generale upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. Philip Morris International has an average rating of “Buy” and an average target price of $125.31.

Shares of Philip Morris International (PM) traded up $3.85 during trading on Friday, hitting $108.92. The company had a trading volume of 5,817,262 shares, compared to its average volume of 4,500,000. The company has a debt-to-equity ratio of -2.91, a current ratio of 1.13 and a quick ratio of 0.68. Philip Morris International has a 1 year low of $94.07 and a 1 year high of $123.55. The firm has a market cap of $169,170.00, a P/E ratio of 24.04, a P/E/G ratio of 1.90 and a beta of 0.89.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 analyst estimates of $7.75 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. equities research analysts expect that Philip Morris International will post 4.75 earnings per share for the current fiscal year.

In other Philip Morris International news, Chairman Louis C. Camilleri sold 108,979 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total value of $11,811,144.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.23% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Doliver Capital Advisors LP grew its stake in shares of Philip Morris International by 8.1% during the 3rd quarter. Doliver Capital Advisors LP now owns 29,755 shares of the company’s stock valued at $3,303,000 after buying an additional 2,242 shares during the period. Hourglass Capital LLC grew its stake in shares of Philip Morris International by 0.9% during the 2nd quarter. Hourglass Capital LLC now owns 76,258 shares of the company’s stock valued at $8,957,000 after buying an additional 650 shares during the period. WFG Advisors LP grew its stake in shares of Philip Morris International by 30.1% during the 2nd quarter. WFG Advisors LP now owns 12,753 shares of the company’s stock valued at $1,498,000 after buying an additional 2,951 shares during the period. Wedbush Securities Inc. grew its stake in shares of Philip Morris International by 28.0% during the 2nd quarter. Wedbush Securities Inc. now owns 18,832 shares of the company’s stock valued at $2,212,000 after buying an additional 4,123 shares during the period. Finally, Swiss National Bank grew its stake in shares of Philip Morris International by 1.0% during the 3rd quarter. Swiss National Bank now owns 5,958,031 shares of the company’s stock valued at $661,401,000 after buying an additional 58,900 shares during the period. 72.35% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Philip Morris International (NYSE:PM)

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