Philip Morris International (PM) Rating Lowered to Buy at Goldman Sachs

Philip Morris International (NYSE:PM) was downgraded by equities researchers at Goldman Sachs from a “conviction-buy” rating to a “buy” rating in a research report issued on Friday, The Fly reports.

Other research analysts have also issued reports about the stock. Morgan Stanley lifted their price target on shares of Philip Morris International from $120.00 to $123.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Stifel Nicolaus decreased their price target on shares of Philip Morris International from $125.00 to $100.00 and set a “buy” rating for the company in a report on Friday. ValuEngine lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday. Bank of America decreased their price target on shares of Philip Morris International from $115.00 to $113.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Finally, Piper Jaffray reaffirmed a “buy” rating and issued a $126.00 price target on shares of Philip Morris International in a report on Thursday, February 8th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $118.29.

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NYSE PM opened at $84.27 on Friday. Philip Morris International has a one year low of $83.50 and a one year high of $123.55. The company has a quick ratio of 0.80, a current ratio of 1.16 and a debt-to-equity ratio of -2.82. The stock has a market capitalization of $133,018.61, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.60 and a beta of 0.86.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by ($0.04). Philip Morris International had a net margin of 7.50% and a negative return on equity of 72.40%. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.17 billion. During the same period last year, the firm posted $1.10 earnings per share. The company’s quarterly revenue was up 19.0% on a year-over-year basis. equities analysts forecast that Philip Morris International will post 5.29 EPS for the current year.

In other news, insider Marc S. Firestone sold 13,650 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were 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 directly owns 189,199 shares of the company’s stock, valued at approximately $19,795,891.37. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andre Calantzopoulos sold 49,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $103.66, for a total transaction of $5,079,340.00. Following the completion of the sale, the chief executive officer now directly owns 792,765 shares of the company’s stock, valued at $82,178,019.90. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.

Several large investors have recently modified their holdings of the company. Tanaka Capital Management Inc. lifted its stake in shares of Philip Morris International by 0.8% in the 2nd quarter. Tanaka Capital Management Inc. now owns 5,590 shares of the company’s stock worth $657,000 after acquiring an additional 42 shares during the period. M&R Capital Management Inc. raised its holdings in shares of Philip Morris International by 0.6% in the 2nd quarter. M&R Capital Management Inc. now owns 7,985 shares of the company’s stock worth $917,000 after purchasing an additional 51 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its holdings in shares of Philip Morris International by 0.4% in the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 14,486 shares of the company’s stock worth $1,701,000 after purchasing an additional 51 shares in the last quarter. South State Corp raised its holdings in shares of Philip Morris International by 0.4% in the 2nd quarter. South State Corp now owns 15,076 shares of the company’s stock worth $1,771,000 after purchasing an additional 57 shares in the last quarter. Finally, Clarius Group LLC raised its holdings in shares of Philip Morris International by 2.3% in the 2nd quarter. Clarius Group LLC now owns 2,635 shares of the company’s stock worth $309,000 after purchasing an additional 58 shares in the last quarter. 72.18% of the stock is owned by institutional investors.

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Philip Morris International Company Profile

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.

The Fly

Analyst Recommendations for Philip Morris International (NYSE:PM)

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