Philip Morris International Inc. (PM) Given a $99.00 Price Target at Jefferies Group
Jefferies Group set a $99.00 price objective on Philip Morris International Inc. (NYSE:PM) in a research note issued to investors on Wednesday. The brokerage currently has a a hold rating on the stock.
Several other research analysts also recently issued reports on PM. Zacks Investment Research upgraded shares of Philip Morris International from a sell rating to a hold rating in a research report on Wednesday, July 20th. Goldman Sachs Group Inc. upgraded shares of Philip Morris International from a neutral rating to a buy rating and upped their target price for the company from $106.00 to $114.00 in a research report on Monday, September 12th. Citigroup Inc. assumed coverage on shares of Philip Morris International in a research report on Tuesday, September 13th. They set a neutral rating and a $106.00 target price on the stock. Wells Fargo & Co. restated an outperform rating on shares of Philip Morris International in a research report on Tuesday, July 19th. Finally, JPMorgan Chase & Co. upgraded shares of Philip Morris International from a neutral rating to an overweight rating and set a $112.00 target price on the stock in a research report on Friday, June 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $104.82.
Philip Morris International (NYSE:PM) traded up 0.30% on Wednesday, hitting $95.97. 1,618,779 shares of the stock traded hands. The company’s 50 day moving average price is $99.62 and its 200-day moving average price is $99.76. The stock has a market capitalization of $148.88 billion, a P/E ratio of 22.96 and a beta of 0.95. Philip Morris International has a 12-month low of $82.40 and a 12-month high of $104.20.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $1.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by $0.05. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.77 billion. Philip Morris International had a negative return on equity of 57.28% and a net margin of 8.84%. During the same quarter last year, the company earned $1.21 EPS. Analysts predict that Philip Morris International will post $4.49 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Wednesday, September 28th will be issued a dividend of $1.04 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, September 26th. This represents a $4.16 annualized dividend and a yield of 4.35%. Philip Morris International’s dividend payout ratio (DPR) is currently 99.52%.
A number of large investors have recently made changes to their positions in the stock. IMS Capital Management increased its stake in Philip Morris International by 4.3% in the first quarter. IMS Capital Management now owns 4,850 shares of the company’s stock worth $476,000 after buying an additional 198 shares in the last quarter. Douglas Lane & Associates LLC purchased a new stake in Philip Morris International during the first quarter worth $1,275,000. Quantitative Systematic Strategies LLC purchased a new stake in Philip Morris International during the first quarter worth $774,000. Lodestar Investment Counsel LLC IL increased its stake in Philip Morris International by 0.6% in the first quarter. Lodestar Investment Counsel LLC IL now owns 52,055 shares of the company’s stock worth $5,107,000 after buying an additional 302 shares in the last quarter. Finally, Legacy Private Trust Co. increased its stake in Philip Morris International by 0.3% in the first quarter. Legacy Private Trust Co. now owns 10,340 shares of the company’s stock worth $1,015,000 after buying an additional 35 shares in the last quarter. 71.22% of the stock is owned by institutional investors and hedge funds.
About Philip Morris International
Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.
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