Philip Morris International (NYSE:PM) had its target price reduced by Citigroup from $110.00 to $90.00 in a research note released on Monday morning, BenzingaRatingsTable reports. They currently have a buy rating on the stock.
PM has been the topic of a number of other reports. Credit Suisse Group set a $80.00 price objective on shares of Philip Morris International and gave the company a sell rating in a report on Wednesday, August 28th. Wells Fargo & Co set a $102.00 price objective on shares of Philip Morris International and gave the company a buy rating in a report on Monday, August 26th. JPMorgan Chase & Co. set a $86.00 price objective on shares of Philip Morris International and gave the company a neutral rating in a report on Wednesday, August 28th. Morgan Stanley lowered their price objective on shares of Philip Morris International from $94.00 to $86.00 and set an overweight rating on the stock in a report on Friday, July 12th. Finally, ValuEngine downgraded shares of Philip Morris International from a hold rating to a sell rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Philip Morris International currently has a consensus rating of Hold and a consensus target price of $93.00.
NYSE PM opened at $78.03 on Monday. Philip Morris International has a 12-month low of $64.67 and a 12-month high of $92.74. The company has a market capitalization of $121.28 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 1.91 and a beta of 1.00. The firm’s 50 day moving average is $74.64 and its 200-day moving average is $80.90.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.13. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The company had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.42 billion. During the same period last year, the company earned $1.41 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. On average, sell-side analysts predict that Philip Morris International will post 5.2 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Wednesday, September 25th were issued a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a yield of 6.00%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend was Tuesday, September 24th. Philip Morris International’s payout ratio is presently 91.76%.
In related news, insider Mario Masseroli sold 1,100 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total transaction of $96,162.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Philip Morris International by 20.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 307,271 shares of the company’s stock valued at $27,160,000 after purchasing an additional 53,210 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in shares of Philip Morris International in the first quarter valued at $252,000. Columbia Asset Management increased its holdings in shares of Philip Morris International by 21.1% in the first quarter. Columbia Asset Management now owns 8,060 shares of the company’s stock valued at $712,000 after purchasing an additional 1,407 shares during the last quarter. Advisory Services Network LLC increased its holdings in shares of Philip Morris International by 2.2% in the first quarter. Advisory Services Network LLC now owns 47,123 shares of the company’s stock valued at $4,165,000 after purchasing an additional 1,022 shares during the last quarter. Finally, Ashburton Jersey Ltd increased its holdings in shares of Philip Morris International by 10.3% in the first quarter. Ashburton Jersey Ltd now owns 197,849 shares of the company’s stock valued at $17,488,000 after purchasing an additional 18,520 shares during the last quarter. Institutional investors and hedge funds own 74.17% of the company’s stock.
About Philip Morris International
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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