Philip Morris International Inc (NYSE:PM) issued its quarterly earnings data on Thursday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.11), Bloomberg Earnings reports. Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. 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 business posted $1.25 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Philip Morris International updated its FY17 guidance to $4.75-4.80 EPS.
Philip Morris International (PM) traded down 0.93% on Friday, reaching $105.94. 5,067,389 shares of the company’s stock traded hands. Philip Morris International has a 52-week low of $86.78 and a 52-week high of $123.55. The stock has a market capitalization of $164.54 billion, a PE ratio of 23.47 and a beta of 0.93. The firm’s 50-day moving average is $113.25 and its 200 day moving average is $115.61.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Wednesday, September 27th were paid a dividend of $1.07 per share. This is a positive change 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 annualized dividend and a yield of 4.04%. Philip Morris International’s dividend payout ratio is 94.48%.
In other news, insider Drago Azinovic sold 14,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total value of $1,624,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Louis C. Camilleri sold 108,979 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total transaction 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 large investors have recently added to or reduced their stakes in the business. South State Corp grew its position in Philip Morris International by 0.4% in the 2nd quarter. South State Corp now owns 15,076 shares of the company’s stock valued at $1,771,000 after purchasing an additional 57 shares during the period. Capital Wealth Planning LLC grew its position in Philip Morris International by 70.3% in the 2nd quarter. Capital Wealth Planning LLC now owns 17,140 shares of the company’s stock valued at $2,013,000 after purchasing an additional 7,077 shares during the period. Empirical Finance LLC acquired a new stake in Philip Morris International in the 2nd quarter valued at $304,000. CWA Asset Management Group LLC grew its position in Philip Morris International by 9.4% in the 2nd quarter. CWA Asset Management Group LLC now owns 26,629 shares of the company’s stock valued at $3,128,000 after purchasing an additional 2,283 shares during the period. Finally, Teachers Advisors LLC grew its position in Philip Morris International by 6.0% in the 2nd quarter. Teachers Advisors LLC now owns 3,803,693 shares of the company’s stock valued at $446,744,000 after purchasing an additional 215,234 shares during the period. 71.97% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on PM shares. 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) reissued a “buy” rating and set a $133.00 price objective (down from $134.00) on shares of Philip Morris International in a research note on Saturday, July 22nd. Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research note on Tuesday, July 11th. Cowen and Company reaffirmed a “buy” rating and set a $135.00 price target on shares of Philip Morris International in a research report on Tuesday, August 22nd. Finally, Piper Jaffray Companies set a $134.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a research report on Saturday, August 19th. 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 company. The stock presently has an average rating of “Hold” and a consensus price target of $124.62.
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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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