ValuEngine lowered shares of Philip Morris International (NYSE:PM) from a hold rating to a sell rating in a research note published on Thursday, ValuEngine reports.
Several other brokerages have also recently issued reports on PM. Morgan Stanley reduced their price objective on Philip Morris International from $94.00 to $86.00 and set an overweight rating on the stock in a research note on Friday, July 12th. Zacks Investment Research upgraded Philip Morris International from a sell rating to a hold rating in a research note on Thursday, May 23rd. Societe Generale upgraded Philip Morris International from a hold rating to a buy rating in a research note on Tuesday, May 7th. Bank of America raised Philip Morris International from an underperform rating to a neutral rating and increased their target price for the stock from $81.00 to $94.00 in a research report on Friday, May 17th. Finally, Barclays raised Philip Morris International from an equal weight rating to an overweight rating and increased their target price for the stock from $82.00 to $100.00 in a research report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $93.92.
PM traded down $3.92 during trading hours on Thursday, hitting $80.25. 467,790 shares of the stock were exchanged, compared to its average volume of 4,926,347. The stock has a 50-day simple moving average of $81.44. Philip Morris International has a 12 month low of $64.67 and a 12 month high of $92.74. The firm has a market capitalization of $129.97 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.13. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The firm had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.42 billion. During the same period last year, the business posted $1.41 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. As a group, research analysts forecast that Philip Morris International will post 5.21 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st were given a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.68%. The ex-dividend date was Thursday, June 20th. Philip Morris International’s dividend payout ratio is presently 89.41%.
In other Philip Morris International news, VP Michael R. Kunst purchased 1,000 shares of the stock in a transaction dated Friday, May 31st. The shares were bought at an average cost of $79.66 per share, with a total value of $79,660.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mario Masseroli sold 1,100 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total value of $96,162.00. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of PM. Dimensional Fund Advisors LP increased its holdings in shares of Philip Morris International by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,903,052 shares of the company’s stock valued at $193,823,000 after purchasing an additional 183,239 shares during the period. Geode Capital Management LLC grew its holdings in Philip Morris International by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 18,724,587 shares of the company’s stock worth $1,247,824,000 after acquiring an additional 1,298,116 shares during the period. Zacks Investment Management grew its holdings in Philip Morris International by 21.2% during the fourth quarter. Zacks Investment Management now owns 640,245 shares of the company’s stock worth $42,743,000 after acquiring an additional 112,120 shares during the period. Squarepoint Ops LLC grew its holdings in Philip Morris International by 406.6% during the fourth quarter. Squarepoint Ops LLC now owns 1,016,935 shares of the company’s stock worth $67,891,000 after acquiring an additional 816,192 shares during the period. Finally, BDO Wealth Advisors LLC grew its holdings in Philip Morris International by 5.8% during the fourth quarter. BDO Wealth Advisors LLC now owns 3,343 shares of the company’s stock worth $223,000 after acquiring an additional 184 shares during the period. 73.48% of the stock is currently owned by institutional investors.
Philip Morris International Company Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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