Wells Fargo & Company Reaffirms “Outperform” Rating for Philip Morris International Inc (PM)

Wells Fargo & Company restated their outperform rating on shares of Philip Morris International Inc (NYSE:PM) in a report issued on Tuesday morning. The firm currently has a $140.00 target price on the stock.

A number of other brokerages have also issued reports on PM. Jefferies Group LLC reissued a hold rating and issued a $121.00 target price on shares of Philip Morris International in a research report on Tuesday, June 20th. Vetr lowered Philip Morris International from a hold rating to a sell rating and set a $117.88 target price on the stock. in a research report on Monday, June 19th. BidaskClub raised Philip Morris International from a buy rating to a strong-buy rating in a research report on Wednesday, June 21st. Zacks Investment Research lowered Philip Morris International from a buy rating to a hold rating in a research report on Monday, July 24th. Finally, Goldman Sachs Group, Inc. (The) reissued a buy rating and issued a $133.00 target price (down previously from $134.00) on shares of Philip Morris International in a research report on Saturday, July 22nd. 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 a consensus rating of Buy and a consensus target price of $125.92.

Shares of Philip Morris International (NYSE:PM) traded down 0.24% during midday trading on Tuesday, hitting $114.26. The stock had a trading volume of 1,063,309 shares. The firm has a market cap of $177.47 billion, a price-to-earnings ratio of 25.32 and a beta of 0.93. The firm’s 50 day moving average price is $114.63 and its 200 day moving average price is $115.76. Philip Morris International has a 52-week low of $86.78 and a 52-week high of $123.55.

Philip Morris International (NYSE:PM) last announced 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 firm had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $7.11 billion. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.15 EPS. On average, equities research analysts expect that Philip Morris International will post $4.83 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This piece was originally published by Markets Daily and is owned by of Markets Daily. If you are viewing this piece on another site, it was illegally copied and republished in violation of US & international copyright law. The legal version of this piece can be read at https://www.themarketsdaily.com/2017/10/13/wells-fargo-company-reaffirms-outperform-rating-for-philip-morris-international-inc-pm.html.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Tuesday, September 26th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.74%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.04. Philip Morris International’s dividend payout ratio is currently 94.90%.

In other news, insider Drago Azinovic sold 14,000 shares of the company’s stock in a transaction on 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 document filed with the SEC, which is accessible through this link. 0.23% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Perpetual Ltd purchased a new stake in shares of Philip Morris International during the second quarter worth $1,867,000. MPS Loria Financial Planners LLC purchased a new stake in shares of Philip Morris International during the second quarter worth $379,000. Frontier Investment Mgmt Co. purchased a new stake in shares of Philip Morris International during the second quarter worth $268,000. W. E. Donoghue & Co. LLC purchased a new stake in shares of Philip Morris International during the second quarter worth $15,605,000. Finally, Intl Fcstone Inc. purchased a new stake in shares of Philip Morris International during the second quarter worth $2,201,000. 72.00% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Philip Morris International (NYSE:PM)

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply