Philip Morris International Inc (NYSE:PM)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wells Fargo & Company in a note issued to investors on Tuesday. They presently have a $140.00 target price on the stock. Wells Fargo & Company’s price target points to a potential upside of 22.53% from the stock’s current price.

Several other research firms have also issued reports on PM. Goldman Sachs Group, Inc. (The) began coverage on shares of Philip Morris International in a research note on Monday, October 2nd. They issued a “buy” rating for the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $120.00 price objective on shares of Philip Morris International in a research note on Thursday, September 28th. Cowen and Company reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Sunday, September 24th. Piper Jaffray Companies set a $134.00 target price on shares of Philip Morris International and gave the stock a “buy” rating in a report on Saturday, August 19th. Finally, BidaskClub upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $126.23.

Shares of Philip Morris International (NYSE PM) opened at 114.26 on Tuesday. Philip Morris International has a 12-month low of $86.78 and a 12-month high of $123.55. The firm has a market capitalization of $177.47 billion, a P/E ratio of 25.32 and a beta of 0.93. The stock’s 50 day moving average price is $114.66 and its 200-day moving average price is $115.77.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.09). The company had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.11 billion. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned $1.15 EPS. On average, equities analysts expect that Philip Morris International will post $4.83 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This story was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/10/12/philip-morris-international-inc-pm-rating-reiterated-by-wells-fargo-company.html.

In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total value of $1,624,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Acropolis Investment Management LLC increased its stake in Philip Morris International by 0.5% in the second quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares in the last quarter. Novare Capital Management LLC increased its position in shares of Philip Morris International by 0.3% during the second quarter. Novare Capital Management LLC now owns 1,842 shares of the company’s stock worth $216,000 after acquiring an additional 5 shares in the last quarter. Baystate Wealth Management LLC increased its position in shares of Philip Morris International by 0.3% during the second quarter. Baystate Wealth Management LLC now owns 2,053 shares of the company’s stock worth $244,000 after acquiring an additional 7 shares in the last quarter. Hudock Capital Group LLC increased its position in shares of Philip Morris International by 0.3% during the second quarter. Hudock Capital Group LLC now owns 3,144 shares of the company’s stock worth $369,000 after acquiring an additional 8 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. increased its position in shares of Philip Morris International by 0.3% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,368 shares of the company’s stock worth $396,000 after acquiring an additional 10 shares in the last quarter. 72.00% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Philip Morris International (NYSE:PM)

Receive News & Stock Ratings for Philip Morris International Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International Inc and related stocks with our FREE daily email newsletter.