Piper Jaffray Companies Reiterates “Overweight” Rating for Philip Morris International Inc (PM)

Philip Morris International Inc (NYSE:PM)‘s stock had its “overweight” rating reissued by stock analysts at Piper Jaffray Companies in a report issued on Wednesday, May 24th, Marketbeat reports. They presently have a $131.00 price target on the stock. Piper Jaffray Companies’ price objective indicates a potential upside of 7.52% from the stock’s current price.

Several other brokerages also recently commented on PM. Vetr downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating and set a $111.99 price objective for the company. in a research report on Monday, May 22nd. Cowen and Company reaffirmed an “outperform” rating and set a $120.00 price objective on shares of Philip Morris International in a research report on Wednesday, April 19th. Jefferies Group LLC set a $111.00 price objective on shares of Philip Morris International and gave the stock a “hold” rating in a research report on Wednesday, April 19th. Barclays PLC raised their price objective on shares of Philip Morris International from $108.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 29th. Finally, Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a research report on Wednesday, March 29th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $119.62.

Analyst Recommendations for Philip Morris International (NYSE:PM)

Shares of Philip Morris International (NYSE:PM) traded up 1.10% during midday trading on Wednesday, hitting $121.84. 7,117,948 shares of the stock traded hands. The company has a market capitalization of $189.23 billion, a price-to-earnings ratio of 26.97 and a beta of 0.94. The firm’s 50-day moving average is $116.33 and its 200 day moving average is $105.61. Philip Morris International has a 52 week low of $86.78 and a 52 week high of $122.90.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, April 20th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by $0.05. Philip Morris International had a net margin of 9.40% and a negative return on equity of 65.44%. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter last year, the business earned $0.98 EPS. The firm’s quarterly revenue was down .3% compared to the same quarter last year. Equities analysts forecast that Philip Morris International will post $4.90 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 11th. Shareholders of record on Friday, June 23rd will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 3.41%. The ex-dividend date is Wednesday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is presently 92.04%.

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A number of institutional investors have recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Philip Morris International during the fourth quarter valued at $106,000. Gradient Investments LLC boosted its stake in Philip Morris International by 76.1% in the first quarter. Gradient Investments LLC now owns 986 shares of the company’s stock worth $111,000 after buying an additional 426 shares during the last quarter. Trent Capital Management Inc. NC acquired a new stake in Philip Morris International during the fourth quarter worth approximately $113,000. Welch Investments LLC acquired a new stake in Philip Morris International during the first quarter worth approximately $113,000. Finally, American Beacon Advisors Inc. acquired a new stake in Philip Morris International during the first quarter worth approximately $114,000. Institutional investors and hedge funds own 73.48% 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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