Philip Morris International (NYSE:PM)‘s stock had its “buy” rating restated by analysts at Cowen in a research report issued to clients and investors on Friday. They currently have a $105.00 price objective on the stock. Cowen’s price target indicates a potential upside of 22.61% from the company’s current price.
Several other research analysts have also issued reports on the company. Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Jefferies Group upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research note on Friday, January 19th. Citigroup upgraded Philip Morris International from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Wednesday, February 28th. They noted that the move was a valuation call. Morgan Stanley raised their target price on Philip Morris International from $120.00 to $123.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Finally, Piper Jaffray restated an “overweight” rating and issued a $137.00 target price (up from $130.00) on shares of Philip Morris International in a research note on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Buy” and a consensus price target of $121.36.
Philip Morris International stock opened at $85.64 on Friday. The company has a debt-to-equity ratio of -3.06, a current ratio of 1.35 and a quick ratio of 0.80. Philip Morris International has a 52-week low of $83.50 and a 52-week high of $123.55. The firm has a market cap of $160,448.66, a price-to-earnings ratio of 17.37, a P/E/G ratio of 1.93 and a beta of 0.86.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). Philip Morris International had a negative return on equity of 71.99% and a net margin of 7.73%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.17 billion. During the same quarter in the prior year, the company earned $1.10 earnings per share. The business’s revenue was up 19.0% compared to the same quarter last year. equities analysts anticipate that Philip Morris International will post 5.28 EPS for the current fiscal year.
In related news, CEO Andre Calantzopoulos sold 49,000 shares of Philip Morris International stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $103.66, for a total value of $5,079,340.00. Following the completion of the sale, the chief executive officer now directly owns 792,765 shares in the company, valued at $82,178,019.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Marc S. Firestone sold 13,650 shares of Philip Morris International stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $104.63, for a total value of $1,428,199.50. Following the completion of the sale, the insider now owns 189,199 shares of the company’s stock, valued at $19,795,891.37. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Front Row Advisors LLC acquired a new stake in Philip Morris International in the fourth quarter worth about $118,000. Wolverine Asset Management LLC acquired a new stake in Philip Morris International in the fourth quarter worth about $126,000. Financial Engines Advisors L.L.C. increased its position in Philip Morris International by 399.2% in the third quarter. Financial Engines Advisors L.L.C. now owns 1,203 shares of the company’s stock worth $134,000 after purchasing an additional 962 shares during the period. Cerebellum GP LLC acquired a new stake in Philip Morris International in the fourth quarter worth about $128,000. Finally, Bank of Nova Scotia Trust Co. acquired a new stake in Philip Morris International in the third quarter worth about $135,000. Hedge funds and other institutional investors own 72.18% of the company’s stock.
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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.
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