Citigroup downgraded shares of Philip Morris International (NYSE:PM) from a buy rating to a neutral rating in a research note published on Monday morning, BenzingaRatingsTable reports. Citigroup currently has $90.00 price objective on the stock.
A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. set a $86.00 price objective on Philip Morris International and gave the stock a neutral rating in a research report on Wednesday, August 28th. Stifel Nicolaus restated a buy rating on shares of Philip Morris International in a report on Tuesday, October 15th. Cowen reaffirmed a hold rating on shares of Philip Morris International in a research note on Thursday, September 12th. ValuEngine cut shares of Philip Morris International from a hold rating to a sell rating in a research note on Monday, November 25th. Finally, Credit Suisse Group set a $80.00 price target on shares of Philip Morris International and gave the stock a sell rating in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $92.27.
Shares of NYSE:PM opened at $82.60 on Monday. The business’s fifty day moving average price is $82.32 and its two-hundred day moving average price is $80.19. The stock has a market cap of $129.03 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 2.02 and a beta of 1.01. Philip Morris International has a one year low of $64.67 and a one year high of $92.74.
Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, October 17th. The company reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.08. Philip Morris International had a negative return on equity of 82.33% and a net margin of 9.59%. The company had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities analysts anticipate that Philip Morris International will post 5.22 EPS for the current year.
A number of large investors have recently modified their holdings of the business. Nuveen Asset Management LLC grew its holdings in Philip Morris International by 23,232.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 11,295,814 shares of the company’s stock valued at $887,059,000 after buying an additional 11,247,401 shares during the period. Invesco Ltd. increased its stake in shares of Philip Morris International by 41.5% during the 2nd quarter. Invesco Ltd. now owns 30,080,523 shares of the company’s stock valued at $2,362,224,000 after acquiring an additional 8,824,567 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Philip Morris International by 16.9% during the 2nd quarter. Morgan Stanley now owns 34,485,714 shares of the company’s stock worth $2,708,164,000 after acquiring an additional 4,998,070 shares during the period. BlackRock Inc. lifted its holdings in shares of Philip Morris International by 5.1% during the 2nd quarter. BlackRock Inc. now owns 100,831,956 shares of the company’s stock worth $7,918,335,000 after acquiring an additional 4,879,296 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Philip Morris International by 56.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,619,770 shares of the company’s stock worth $360,204,000 after acquiring an additional 1,663,264 shares during the period. 73.12% of the stock is currently owned by hedge funds and other 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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