Philip Morris International Inc. (NYSE:PM) issued an update on its FY16 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.46-4.51 for the period, compared to the Thomson Reuters consensus estimate of $4.55.

Shares of Philip Morris International Inc. (NYSE:PM) opened at 87.92 on Thursday. The firm has a 50-day moving average price of $95.24 and a 200 day moving average price of $98.89. The company has a market cap of $136.39 billion, a P/E ratio of 21.03 and a beta of 0.91. Philip Morris International Inc. has a 12 month low of $84.46 and a 12 month high of $104.20.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.02. Philip Morris International had a negative return on equity of 59.94% and a net margin of 8.77%. The company earned $6.98 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same quarter in the previous year, the business earned $1.24 EPS. Philip Morris International’s revenue was up .8% compared to the same quarter last year. Equities analysts predict that Philip Morris International Inc. will post $4.55 earnings per share for the current year.

Earnings History and Estimates for Philip Morris International (NYSE:PM)

A number of equities analysts recently issued reports on the company. Citigroup Inc. restated a neutral rating and set a $106.00 price objective on shares of Philip Morris International in a report on Friday, October 21st. Zacks Investment Research raised Philip Morris International from a sell rating to a hold rating in a research report on Wednesday, July 20th. Goldman Sachs Group Inc. raised Philip Morris International from a neutral rating to a buy rating and lifted their target price for the company from $106.00 to $114.00 in a research report on Monday, September 12th. Jefferies Group reaffirmed a hold rating and set a $101.00 target price (up from $99.00) on shares of Philip Morris International in a research report on Saturday, October 22nd. Finally, SBG Securities raised Philip Morris International from a sell rating to a hold rating in a research report on Wednesday, July 20th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Philip Morris International has an average rating of Buy and an average target price of $105.57.

A number of hedge funds have recently bought and sold shares of PM. Quadrature Capital Ltd purchased a new stake in Philip Morris International during the second quarter valued at $27,569,000. GAM Holding AG increased its stake in shares of Philip Morris International by 0.8% in the second quarter. GAM Holding AG now owns 185,325 shares of the company’s stock worth $18,851,000 after buying an additional 1,536 shares during the last quarter. Crawford Investment Counsel Inc. increased its stake in shares of Philip Morris International by 7.4% in the second quarter. Crawford Investment Counsel Inc. now owns 159,423 shares of the company’s stock worth $16,217,000 after buying an additional 10,932 shares during the last quarter. Atlantic Trust Group LLC increased its stake in shares of Philip Morris International by 23.4% in the second quarter. Atlantic Trust Group LLC now owns 95,720 shares of the company’s stock worth $9,736,000 after buying an additional 18,135 shares during the last quarter. Finally, Montgomery Investment Management Inc. bought a new stake in shares of Philip Morris International during the second quarter worth approximately $402,000. Institutional investors and hedge funds own 71.07% of the company’s stock.

Philip Morris International Company Profile

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.

5 Day Chart for NYSE:PM

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