Piper Jaffray Companies set a $110.00 target price on Philip Morris International (NYSE:PM) in a research report released on Monday morning, The Fly reports. The firm currently has a buy rating on the stock. Piper Jaffray Companies also issued estimates for Philip Morris International’s Q4 2018 earnings at $1.17 EPS, FY2018 earnings at $5.02 EPS, Q1 2019 earnings at $1.09 EPS, Q1 2020 earnings at $1.24 EPS, Q2 2020 earnings at $1.55 EPS, Q3 2020 earnings at $1.68 EPS and FY2020 earnings at $5.96 EPS.
Several other brokerages have also commented on PM. Zacks Investment Research upgraded Philip Morris International from a sell rating to a hold rating in a research report on Wednesday, October 24th. Societe Generale set a $95.00 price objective on Philip Morris International and gave the company a hold rating in a research report on Monday, October 22nd. Citigroup raised their price target on Philip Morris International from $95.00 to $100.00 and gave the stock a buy rating in a research report on Friday, October 19th. ValuEngine upgraded Philip Morris International from a sell rating to a hold rating in a research report on Thursday, October 18th. Finally, Sanford C. Bernstein began coverage on Philip Morris International in a research report on Tuesday, October 16th. They set an outperform rating and a $97.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $95.73.
Shares of Philip Morris International stock opened at $85.43 on Monday. The stock has a market cap of $134.51 billion, a PE ratio of 17.33, a PEG ratio of 2.00 and a beta of 0.60. Philip Morris International has a 12 month low of $76.21 and a 12 month high of $111.25.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, October 18th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.28 by $0.16. The firm had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.16 billion. Philip Morris International had a negative return on equity of 78.80% and a net margin of 8.20%. The company’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the company earned $1.27 EPS. On average, sell-side analysts anticipate that Philip Morris International will post 5.01 earnings per share for the current fiscal year.
In related news, Director Louis C. Camilleri sold 59,495 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $86.98, for a total transaction of $5,174,875.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Gulf International Bank UK Ltd lifted its stake in shares of Philip Morris International by 2.0% in the 3rd quarter. Gulf International Bank UK Ltd now owns 30,295 shares of the company’s stock valued at $2,470,000 after purchasing an additional 583 shares during the period. RB Capital Management LLC lifted its stake in shares of Philip Morris International by 13.4% in the 3rd quarter. RB Capital Management LLC now owns 4,941 shares of the company’s stock valued at $403,000 after purchasing an additional 584 shares during the period. Shine Investment Advisory Services Inc. lifted its stake in shares of Philip Morris International by 90.7% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock valued at $101,000 after purchasing an additional 592 shares during the period. Salem Investment Counselors Inc. lifted its stake in shares of Philip Morris International by 1.6% in the 3rd quarter. Salem Investment Counselors Inc. now owns 38,104 shares of the company’s stock valued at $3,107,000 after purchasing an additional 600 shares during the period. Finally, Buckingham Asset Management LLC lifted its stake in shares of Philip Morris International by 3.2% in the 3rd quarter. Buckingham Asset Management LLC now owns 19,736 shares of the company’s stock valued at $1,609,000 after purchasing an additional 616 shares during the period. Hedge funds and other institutional investors own 73.32% of the company’s stock.
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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