Philip Morris International Inc (PM) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Philip Morris International Inc (NYSE:PM) from a hold rating to a buy rating in a research note issued to investors on Tuesday, July 11th. The brokerage currently has $132.00 price target on the stock.
According to Zacks, “Shares of Philip Morris have outperformed the Zacks categorized Tobacco industry on a year-to-date basis, primarily due to its strong portfolio of tobacco brands and pricing power. We note that the company is aggressively investing in creating smoke-free products called reduced risk products, such as heatsticks and iQOS products. Notably, it has a bright potential to make Britain smoke-free via its IQOS. Furthermore, the marketing and technology-sharing agreement between Philip Morris and its peer Altria Group is also boosting the businesses of both the companies and will help them maintain the market share. However, strict government regulations, declining demand for cigarettes and currency headwinds remain major concerns for the company. Nevertheless, estimates for 2017 have increased in the last seven days.”
Other equities research analysts have also issued reports about the company. Berenberg Bank set a $96.00 price target on Philip Morris International and gave the company a hold rating in a research report on Saturday, June 24th. Citigroup Inc. lifted their price target on Philip Morris International from $107.00 to $118.00 and gave the company a neutral rating in a research report on Tuesday, April 25th. Jefferies Group LLC lifted their price target on Philip Morris International from $111.00 to $120.00 and gave the company a hold rating in a research report on Monday, May 22nd. BidaskClub upgraded Philip Morris International from a buy rating to a strong-buy rating in a research report on Wednesday, June 21st. Finally, Vetr lowered Philip Morris International from a hold rating to a sell rating and set a $117.88 price target on the stock. in a research report on Monday, June 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $122.00.
Philip Morris International (PM) opened at 114.76 on Tuesday. The firm has a market capitalization of $178.24 billion, a price-to-earnings ratio of 25.43 and a beta of 0.93. The stock’s 50 day moving average price is $118.90 and its 200-day moving average price is $112.12. Philip Morris International has a 12 month low of $86.78 and a 12 month high of $123.55.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.09. The business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $7.11 billion. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. Philip Morris International’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 earnings per share. Equities analysts anticipate that Philip Morris International will post $4.83 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 11th. Stockholders of record on Friday, June 23rd were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Wednesday, June 21st. Philip Morris International’s dividend payout ratio is currently 92.24%.
Several hedge funds and other institutional investors have recently bought and sold shares of PM. Nicholas Co. Inc. WI boosted its position in Philip Morris International by 6.7% in the fourth quarter. Nicholas Co. Inc. WI now owns 606,755 shares of the company’s stock valued at $55,512,000 after buying an additional 37,840 shares in the last quarter. Massmutual Trust Co. FSB ADV acquired a new position in Philip Morris International during the fourth quarter valued at $2,925,000. Gyroscope Capital Management Group LLC boosted its position in Philip Morris International by 10.5% in the fourth quarter. Gyroscope Capital Management Group LLC now owns 47,254 shares of the company’s stock valued at $4,323,000 after buying an additional 4,484 shares in the last quarter. Sii Investments Inc. WI boosted its position in Philip Morris International by 7.2% in the fourth quarter. Sii Investments Inc. WI now owns 9,626 shares of the company’s stock valued at $879,000 after buying an additional 643 shares in the last quarter. Finally, Good Life Advisors LLC acquired a new position in Philip Morris International during the fourth quarter valued at $951,000. Hedge funds and other institutional investors own 72.33% of the company’s stock.
Philip Morris International Company Profile
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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