Philip Morris International Inc (NYSE:PM) – Research analysts at Jefferies Group cut their FY2020 EPS estimates for Philip Morris International in a note issued to investors on Thursday. Jefferies Group analyst O. Bennett now forecasts that the company will post earnings per share of $5.98 for the year, down from their previous forecast of $6.05. Jefferies Group currently has a “Hold” rating and a $116.00 price target on the stock.
Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.09). Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The business had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $7.11 billion. During the same quarter last year, the business posted $1.15 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: “Philip Morris International Inc Expected to Post FY2020 Earnings of $5.98 Per Share (PM)” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another website, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this news story can be read at https://www.dispatchtribunal.com/2017/10/15/philip-morris-international-inc-expected-to-post-fy2020-earnings-of-5-98-per-share-pm.html.
A number of other brokerages also recently weighed in on PM. TheStreet raised shares of Philip Morris International from a “c+” rating to a “b-” rating in a report on Thursday, July 20th. Zacks Investment Research downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Berenberg Bank set a $96.00 price target on shares of Philip Morris International and gave the company a “hold” rating in a report on Saturday, June 24th. Citigroup Inc. reissued a “neutral” rating and issued a $125.00 price target (down from $128.00) on shares of Philip Morris International in a report on Monday, July 24th. Finally, Bank of America Corporation upped their price target on shares of Philip Morris International from $123.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, July 10th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $125.92.
Philip Morris International (NYSE:PM) opened at 113.99 on Friday. The stock has a market capitalization 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’s 50-day moving average is $114.61 and its 200 day moving average is $115.79.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Tuesday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. Philip Morris International’s payout ratio is presently 94.90%.
In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction dated 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 filing with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of PM. Guidant Wealth Advisors increased its holdings in shares of Philip Morris International by 25.5% in the 2nd quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock valued at $110,000 after purchasing an additional 191 shares during the period. Welch Investments LLC acquired a new position in shares of Philip Morris International in the 1st quarter valued at about $113,000. American Beacon Advisors Inc. acquired a new position in shares of Philip Morris International in the 1st quarter valued at about $114,000. Vantage Investment Advisors LLC increased its holdings in shares of Philip Morris International by 1.0% in the 2nd 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 during the period. Finally, Acropolis Investment Management LLC increased its holdings in shares of Philip Morris International by 0.5% in the 2nd quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares during the period. Institutional investors own 72.00% of the company’s stock.
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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