Philip Morris International Inc (PM) Given a $134.00 Price Target at Piper Jaffray Companies
A number of other brokerages have also issued reports on PM. Vetr downgraded Philip Morris International from a hold rating to a sell rating and set a $117.88 target price for the company. in a research report on Monday, June 19th. Jefferies Group LLC reiterated a hold rating and set a $121.00 target price on shares of Philip Morris International in a research report on Tuesday, June 20th. BidaskClub upgraded Philip Morris International from a buy rating to a strong-buy rating in a research report on Wednesday, June 21st. Wells Fargo & Company reiterated an outperform rating on shares of Philip Morris International in a research report on Friday, June 9th. Finally, Bank of America Corporation increased their target price on Philip Morris International from $120.00 to $123.00 and gave the company a neutral rating in a research report on Tuesday, May 30th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $121.79.
Shares of Philip Morris International (NYSE:PM) traded down 0.52% during midday trading on Friday, reaching $115.33. 4,178,162 shares of the company’s stock traded hands. The company has a 50 day moving average of $117.20 and a 200 day moving average of $113.64. Philip Morris International has a 52-week low of $86.78 and a 52-week high of $123.55. The firm has a market cap of $179.13 billion, a PE ratio of 25.52 and a beta of 0.93.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.09. The firm had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $7.11 billion. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.15 earnings per share. On average, equities analysts predict that Philip Morris International will post $4.83 EPS for the current fiscal year.
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Several institutional investors have recently made changes to their positions in PM. Guidant Wealth Advisors raised its position in Philip Morris International by 25.5% in the second quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock valued at $110,000 after buying an additional 191 shares during the period. Gradient Investments LLC raised its position in Philip Morris International by 76.1% in the first quarter. Gradient Investments LLC now owns 986 shares of the company’s stock valued at $111,000 after buying an additional 426 shares during the period. Welch Investments LLC bought a new position in Philip Morris International during the first quarter valued at about $113,000. American Beacon Advisors Inc. bought a new position in Philip Morris International during the first quarter valued at about $114,000. Finally, Vantage Investment Advisors LLC raised its position in Philip Morris International by 1.0% in the second quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock valued at $121,000 after buying an additional 10 shares during the period. Hedge funds and other institutional investors own 72.30% of the company’s stock.
About Philip Morris International
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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