Philip Morris International (PM) Given New $113.00 Price Target at Bank of America

Philip Morris International (NYSE:PM) had its target price decreased by equities researchers at Bank of America from $115.00 to $113.00 in a note issued to investors on Friday. The brokerage presently has a “neutral” rating on the stock. Bank of America’s price target points to a potential upside of 13.07% from the stock’s previous close.

PM has been the topic of a number of other research reports. Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, October 20th. Zacks Investment Research cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Monday, December 11th. Jefferies Group raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a report on Friday, January 19th. Piper Jaffray Companies set a $130.00 price objective on shares of Philip Morris International and gave the company a “buy” rating in a report on Thursday, November 16th. Finally, Citigroup cut their price objective on shares of Philip Morris International from $125.00 to $117.00 and set a “neutral” rating for the company in a report on Friday, October 20th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Philip Morris International has a consensus rating of “Buy” and an average target price of $123.79.

Philip Morris International (PM) traded down $0.43 during midday trading on Friday, reaching $99.94. 9,900,000 shares of the company’s stock were exchanged, compared to its average volume of 5,350,000. Philip Morris International has a 12 month low of $96.66 and a 12 month high of $123.55. The company has a market cap of $155,230.00, a PE ratio of 25.82, a price-to-earnings-growth ratio of 1.92 and a beta of 0.85. The company has a debt-to-equity ratio of -2.91, a quick ratio of 0.68 and a current ratio of 1.13.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, February 8th. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.17 billion. During the same quarter in the previous year, the business posted $1.10 EPS. Philip Morris International’s revenue was up 19.0% on a year-over-year basis. sell-side analysts predict that Philip Morris International will post 4.74 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the stock. Novare Capital Management LLC grew its holdings in shares of Philip Morris International by 0.3% in the second quarter. Novare Capital Management LLC now owns 1,842 shares of the company’s stock valued at $216,000 after purchasing an additional 5 shares in the last quarter. Hudock Capital Group LLC grew its holdings in shares of Philip Morris International by 0.3% in the second quarter. Hudock Capital Group LLC now owns 3,144 shares of the company’s stock valued at $369,000 after purchasing an additional 8 shares in the last quarter. Jackson Grant Investment Advisers Inc. grew its holdings in shares of Philip Morris International by 0.3% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,368 shares of the company’s stock valued at $396,000 after purchasing an additional 10 shares in the last quarter. Vantage Investment Advisors LLC grew its holdings in shares of Philip Morris International by 1.0% in the second quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock valued at $121,000 after purchasing an additional 10 shares in the last quarter. Finally, First Capital Advisors Group LLC. boosted its stake in Philip Morris International by 0.3% during the second quarter. First Capital Advisors Group LLC. now owns 3,490 shares of the company’s stock worth $410,000 after buying an additional 12 shares during the period. 72.38% of the stock is owned by hedge funds and other 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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