Philip Morris International Inc (NYSE:PM) had its target price cut by stock analysts at Jefferies Group LLC from $120.00 to $116.00 in a research report issued to clients and investors on Thursday. The brokerage presently has a “hold” rating on the stock. Jefferies Group LLC’s price objective indicates a potential upside of 1.76% from the company’s current price. Jefferies Group also issued estimates for Philip Morris International’s FY2020 earnings at $5.98 EPS.
PM has been the subject of a number of other reports. TheStreet upgraded Philip Morris International from a “c+” rating to a “b-” rating in a report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $133.00 target price (down from $134.00) on shares of Philip Morris International in a report on Saturday, July 22nd. Cowen and Company restated a “buy” rating on shares of Philip Morris International in a report on Sunday, September 24th. BidaskClub cut Philip Morris International from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Vetr upgraded Philip Morris International from a “strong sell” rating to a “buy” rating and set a $128.00 target price for the company in a report on Monday, June 26th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $125.92.
Shares of Philip Morris International (NYSE:PM) traded down 0.47% during mid-day trading on Thursday, hitting $113.99. The stock had a trading volume of 2,658,074 shares. The stock has a market cap of $177.05 billion, a P/E ratio of 25.26 and a beta of 0.93. Philip Morris International has a 12 month low of $86.78 and a 12 month high of $123.55. The firm has a 50 day moving average price of $114.61 and a 200-day moving average price of $115.77.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.09). Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The firm had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same quarter in the previous year, the company posted $1.15 earnings per share. Philip Morris International’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts forecast that Philip Morris International will post $4.84 EPS for the current year.
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In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total transaction of $1,624,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Perpetual Ltd bought a new position in Philip Morris International during the 2nd quarter valued at approximately $1,867,000. MPS Loria Financial Planners LLC bought a new position in Philip Morris International during the 2nd quarter valued at approximately $379,000. Frontier Investment Mgmt Co. bought a new position in Philip Morris International during the 2nd quarter valued at approximately $268,000. W. E. Donoghue & Co. LLC bought a new position in Philip Morris International during the 2nd quarter valued at approximately $15,605,000. Finally, Intl Fcstone Inc. bought a new position in Philip Morris International during the 2nd quarter valued at approximately $2,201,000. 72.00% of the stock is owned by institutional investors and hedge funds.
About Philip Morris International
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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