Philip Morris International Inc (NYSE:PM) had its target price trimmed by Jefferies Group LLC from $120.00 to $116.00 in a research report released on Thursday morning, Marketbeat.com reports. The brokerage currently has a hold rating on the stock. Jefferies Group also issued estimates for Philip Morris International’s FY2020 earnings at $5.98 EPS.

Other analysts have also issued reports about the company. TheStreet upgraded Philip Morris International from a c+ rating to a b- rating in a research note on Thursday, July 20th. Zacks Investment Research lowered Philip Morris International from a buy rating to a hold rating in a research note on Monday, July 24th. Berenberg Bank set a $96.00 price objective on Philip Morris International and gave the company a hold rating in a research note on Saturday, June 24th. Citigroup Inc. reiterated a neutral rating and set a $125.00 price objective (down from $128.00) on shares of Philip Morris International in a research note on Monday, July 24th. Finally, Bank of America Corporation boosted their price objective on Philip Morris International from $123.00 to $124.00 and gave the company a neutral rating in a research note on Monday, July 10th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $125.92.

Shares of Philip Morris International (NYSE PM) traded down 0.47% on Thursday, reaching $113.99. The company’s stock had a trading volume of 2,658,074 shares. The firm’s 50 day moving average is $114.61 and its 200-day moving average is $115.79. Philip Morris International has a 52-week low of $86.78 and a 52-week high of $123.55. The stock has a market cap of $177.05 billion, a P/E ratio of 25.22 and a beta of 0.93.

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 the Thomson Reuters’ consensus estimate of $1.23 by ($0.09). The firm had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $7.11 billion. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.15 earnings per share. On average, equities research analysts forecast that Philip Morris International will post $4.84 EPS for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Wednesday, September 27th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.75%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.04. The ex-dividend date was Tuesday, September 26th. Philip Morris International’s payout ratio is presently 94.90%.

In related news, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total transaction of $1,624,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. Acropolis Investment Management LLC grew its position in Philip Morris International by 0.5% during the second quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock worth $123,000 after buying an additional 5 shares in the last quarter. Novare Capital Management LLC grew its position in 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 buying an additional 5 shares in the last quarter. Baystate Wealth Management LLC grew its position in 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 buying an additional 7 shares in the last quarter. Hudock Capital Group LLC grew its position in 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 buying an additional 8 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. grew its position in 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 buying an additional 10 shares in the last quarter. Institutional investors and hedge funds own 72.00% 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.

Analyst Recommendations for Philip Morris International (NYSE:PM)

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