Philip Morris International Inc. Forecasted to Post Q4 2016 Earnings of $1.14 Per Share (PM)
Philip Morris International Inc. (NYSE:PM) – Research analysts at Credit Agricole SA issued their Q4 2016 earnings per share (EPS) estimates for shares of Philip Morris International in a report released on Monday. Credit Agricole SA analyst M. Lavery forecasts that the brokerage will post earnings per share of $1.14 for the quarter. Credit Agricole SA currently has a “Outperform” rating on the stock.
A number of other research analysts have also weighed in on the company. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $116.00 target price (up previously from $114.00) on shares of Philip Morris International in a report on Monday, October 3rd. Zacks Investment Research raised Philip Morris International from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a report on Wednesday, October 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $110.00 target price on shares of Philip Morris International in a report on Tuesday, September 27th. Citigroup Inc. reaffirmed a “neutral” rating and set a $106.00 target price on shares of Philip Morris International in a report on Monday, September 26th. Finally, Wells Fargo & Co. reaffirmed an “outperform” rating and set a $115.00 target price on shares of Philip Morris International in a report on Thursday, September 22nd. Eight 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 company’s stock. Philip Morris International presently has a consensus rating of “Buy” and a consensus price target of $105.57.
Shares of Philip Morris International (NYSE:PM) opened at 89.09 on Thursday. The firm’s 50-day moving average is $94.96 and its 200-day moving average is $98.82. Philip Morris International has a 52-week low of $84.46 and a 52-week high of $104.20. The firm has a market cap of $138.21 billion, a P/E ratio of 21.31 and a beta of 0.91.
Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, October 18th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The business earned $6.98 billion during the quarter, compared to the consensus estimate of $7.01 billion. Philip Morris International had a net margin of 8.77% and a negative return on equity of 59.94%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 EPS.
Several institutional investors have recently bought and sold shares of PM. The Manufacturers Life Insurance Company acquired a new position in Philip Morris International during the third quarter valued at about $338,278,000. Emerald Acquisition Ltd. acquired a new position in Philip Morris International during the second quarter valued at about $272,521,000. Vanguard Group Inc. boosted its position in Philip Morris International by 2.6% in the second quarter. Vanguard Group Inc. now owns 99,323,022 shares of the company’s stock valued at $10,103,138,000 after buying an additional 2,501,571 shares during the period. Canada Pension Plan Investment Board boosted its position in Philip Morris International by 651.6% in the third quarter. Canada Pension Plan Investment Board now owns 2,368,710 shares of the company’s stock valued at $230,286,000 after buying an additional 2,053,535 shares during the period. Finally, Bank of Montreal Can acquired a new position in Philip Morris International during the second quarter valued at about $173,009,000. 71.07% of the stock is currently owned by hedge funds and other institutional investors.
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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