Jefferies Financial Group Analysts Lower Earnings Estimates for Philip Morris International Inc. (PM)

Philip Morris International Inc. (NYSE:PM) – Investment analysts at Jefferies Financial Group reduced their FY2018 earnings estimates for shares of Philip Morris International in a research report issued to clients and investors on Thursday, November 29th. Jefferies Financial Group analyst O. Bennett now forecasts that the company will post earnings of $4.99 per share for the year, down from their previous forecast of $5.00. Jefferies Financial Group has a “Hold” rating and a $80.00 price objective on the stock. Jefferies Financial Group also issued estimates for Philip Morris International’s FY2019 earnings at $5.06 EPS, FY2020 earnings at $5.52 EPS and FY2021 earnings at $6.00 EPS.

A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. ValuEngine upgraded Philip Morris International from a “strong sell” rating to a “sell” rating in a research report on Friday, September 21st. Citigroup lifted their target price on Philip Morris International from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 21st. Societe Generale set a $95.00 target price on Philip Morris International and gave the company a “hold” rating in a research report on Monday, October 22nd. Finally, Sanford C. Bernstein initiated coverage on Philip Morris International in a research note on Tuesday, October 16th. They set an “outperform” rating and a $97.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Hold” and a consensus target price of $94.73.

Philip Morris International stock opened at $86.96 on Friday. Philip Morris International has a 12-month low of $76.21 and a 12-month high of $111.25. The stock has a market capitalization of $134.30 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 1.98 and a beta of 0.58.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, October 18th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.16. Philip Morris International had a negative return on equity of 78.80% and a net margin of 8.20%. The firm had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.16 billion. During the same quarter in the previous year, the business posted $1.27 earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis.

Several hedge funds have recently made changes to their positions in the company. Carnegie Capital Asset Management LLC lifted its stake in shares of Philip Morris International by 14.8% in the third quarter. Carnegie Capital Asset Management LLC now owns 9,163 shares of the company’s stock worth $788,000 after acquiring an additional 1,179 shares during the period. Belpointe Asset Management LLC lifted its stake in shares of Philip Morris International by 233.0% in the third quarter. Belpointe Asset Management LLC now owns 12,029 shares of the company’s stock worth $981,000 after acquiring an additional 8,417 shares during the period. Vanguard Group Inc. lifted its stake in shares of Philip Morris International by 1.3% in the third quarter. Vanguard Group Inc. now owns 118,890,424 shares of the company’s stock worth $9,694,325,000 after acquiring an additional 1,516,211 shares during the period. Morgan Stanley lifted its stake in shares of Philip Morris International by 5.0% in the third quarter. Morgan Stanley now owns 23,865,004 shares of the company’s stock worth $1,945,952,000 after acquiring an additional 1,126,960 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Philip Morris International by 2.5% in the third quarter. Legal & General Group Plc now owns 6,460,756 shares of the company’s stock worth $526,810,000 after acquiring an additional 154,947 shares during the period. 72.31% of the stock is currently owned by hedge funds and other institutional investors.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

Read More: Fundamental Analysis and Individual Investors

Earnings History and Estimates for Philip Morris International (NYSE:PM)

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