Philip Morris International Inc (NYSE:PM) announced its quarterly earnings results on Thursday, October 19th. The company reported $1.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11), Bloomberg Earnings reports. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The firm had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same period in the previous year, the company earned $1.25 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Philip Morris International updated its FY17 guidance to $4.75-4.80 EPS.
Philip Morris International (NYSE:PM) traded down 0.93% on Friday, reaching $105.94. 5,067,389 shares of the company’s stock were exchanged. Philip Morris International has a one year low of $86.78 and a one year high of $123.55. The firm has a 50 day moving average price of $113.25 and a 200 day moving average price of $115.61. The firm has a market cap of $164.54 billion, a PE ratio of 23.47 and a beta of 0.93.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th were given a dividend of $1.07 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Tuesday, September 26th. This represents a $4.28 dividend on an annualized basis and a yield of 4.04%. Philip Morris International’s payout ratio is 94.48%.
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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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Louis C. Camilleri sold 108,979 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total value of $11,811,144.02. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Philip Morris International by 7.4% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 8,818 shares of the company’s stock worth $1,036,000 after purchasing an additional 604 shares during the last quarter. BlackRock Inc. increased its position in Philip Morris International by 2.7% in the 2nd quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock valued at $10,781,538,000 after acquiring an additional 2,421,533 shares during the period. Payden & Rygel increased its position in Philip Morris International by 6.6% in the 2nd quarter. Payden & Rygel now owns 114,100 shares of the company’s stock valued at $13,401,000 after acquiring an additional 7,100 shares during the period. Captrust Financial Advisors acquired a new stake in Philip Morris International in the 2nd quarter valued at approximately $1,605,000. Finally, Standard Life Investments LTD increased its position in Philip Morris International by 248.6% in the 2nd quarter. Standard Life Investments LTD now owns 2,384,628 shares of the company’s stock valued at $280,111,000 after acquiring an additional 1,700,528 shares during the period. 71.97% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on PM shares. Bank of America Corporation raised their target price on shares of Philip Morris International from $123.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, July 10th. Zacks Investment Research upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research note on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $133.00 price target (down from $134.00) on shares of Philip Morris International in a research note on Saturday, July 22nd. TheStreet upgraded shares of Philip Morris International from a “c+” rating to a “b-” rating in a research note on Thursday, July 20th. Finally, Citigroup Inc. restated a “neutral” rating and set a $125.00 price objective (down from $128.00) on shares of Philip Morris International in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. Philip Morris International presently has an average rating of “Hold” and a consensus target price of $124.62.
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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