FY2017 EPS Estimates for Philip Morris International Inc. Reduced by Jefferies Group (PM)
Philip Morris International Inc. (NYSE:PM) – Research analysts at Jefferies Group lowered their FY2017 earnings per share estimates for Philip Morris International in a note issued to investors on Thursday. Jefferies Group analyst O. Bennett now forecasts that the brokerage will post earnings of $4.63 per share for the year, down from their previous estimate of $4.97. Jefferies Group currently has a “Hold” rating and a $94.00 target price on the stock. Jefferies Group also issued estimates for Philip Morris International’s FY2018 earnings at $5.01 EPS and FY2019 earnings at $5.46 EPS.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, October 18th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 had revenue of $6.98 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same period in the previous year, the company posted $1.24 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year.
A number of other research firms also recently issued reports on PM. Zacks Investment Research downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Friday, September 23rd. reaffirmed an “outperform” rating on shares of Philip Morris International in a report on Sunday, September 25th. Wells Fargo & Co. reissued an “outperform” rating and set a $115.00 price target on shares of Philip Morris International in a report on Thursday, September 22nd. Citigroup Inc. initiated coverage on Philip Morris International in a report on Tuesday, September 13th. They set a “neutral” rating and a $106.00 price target on the stock. Finally, Morgan Stanley reissued an “overweight” rating and set a $110.00 price target on shares of Philip Morris International in a report on Tuesday, September 27th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $104.82.
Philip Morris International (NYSE:PM) traded down 1.17% during mid-day trading on Monday, hitting $88.95. The company had a trading volume of 1,110,243 shares. Philip Morris International has a 52 week low of $84.46 and a 52 week high of $104.20. The company has a market capitalization of $137.99 billion, a price-to-earnings ratio of 21.28 and a beta of 0.91. The firm’s 50 day moving average is $94.30 and its 200 day moving average is $98.61.
Large investors have recently made changes to their positions in the stock. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in shares of Philip Morris International by 233.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,000 shares of the company’s stock valued at $101,000 after buying an additional 700 shares in the last quarter. Glassman Wealth Services raised its position in Philip Morris International by 0.4% in the second quarter. Glassman Wealth Services now owns 1,000 shares of the company’s stock worth $102,000 after buying an additional 4 shares in the last quarter. Acropolis Investment Management LLC raised its position in Philip Morris International by 0.5% in the second quarter. Acropolis Investment Management LLC now owns 1,054 shares of the company’s stock worth $107,000 after buying an additional 5 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Philip Morris International during the second quarter worth approximately $113,000. Finally, Balentine LLC raised its position in Philip Morris International by 98.1% in the third quarter. Balentine LLC now owns 1,133 shares of the company’s stock worth $110,000 after buying an additional 561 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.
In other Philip Morris International news, Director Jun Makihara purchased 2,000 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was bought at an average price of $89.22 per share, with a total value of $178,440.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.
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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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