A number of other research firms also recently weighed in on PM. TheStreet raised Philip Morris International from a c+ rating to a b- rating in a report on Thursday, July 20th. Jefferies Group LLC lowered their target price on Philip Morris International from $120.00 to $116.00 and set a hold rating on the stock in a report on Thursday, October 12th. Zacks Investment Research downgraded Philip Morris International from a buy rating to a hold rating in a report on Monday, July 24th. Berenberg Bank set a $96.00 target price on Philip Morris International and gave the company a hold rating in a report on Saturday, June 24th. Finally, Citigroup Inc. reissued a neutral rating and issued a $125.00 target price (down previously from $128.00) on shares of Philip Morris International in a report on Monday, July 24th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $125.00.
Philip Morris International (NYSE PM) traded up 1.27% during midday trading on Friday, hitting $109.52. The stock had a trading volume of 6,177,164 shares. The firm has a market cap of $170.11 billion, a price-to-earnings ratio of 24.27 and a beta of 0.93. Philip Morris International has a 52 week low of $86.78 and a 52 week high of $123.55. The firm has a 50 day moving average of $113.93 and a 200 day moving average of $115.70.
Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, October 19th. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.11). Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The firm had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the prior year, the company posted $1.25 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. Equities research analysts predict that Philip Morris International will post $4.81 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th were paid a $1.07 dividend. The ex-dividend date of this dividend was Tuesday, September 26th. This represents a $4.28 annualized dividend and a dividend yield of 3.91%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. Philip Morris International’s dividend payout ratio (DPR) is 94.48%.
In other news, insider Drago Azinovic sold 14,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total value of $1,624,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.23% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Philip Morris International by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock valued at $13,092,759,000 after purchasing an additional 2,972,929 shares during the period. BlackRock Inc. raised its stake in Philip Morris International by 2.7% during the 2nd quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock valued at $10,781,538,000 after purchasing an additional 2,421,533 shares during the period. State Street Corp raised its stake in Philip Morris International by 1.8% during the 1st quarter. State Street Corp now owns 59,926,871 shares of the company’s stock valued at $6,766,079,000 after purchasing an additional 1,058,408 shares during the period. FMR LLC raised its stake in Philip Morris International by 12.5% during the 2nd quarter. FMR LLC now owns 20,919,201 shares of the company’s stock valued at $2,456,960,000 after purchasing an additional 2,330,864 shares during the period. Finally, Legal & General Group Plc raised its stake in Philip Morris International by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 7,422,457 shares of the company’s stock valued at $871,687,000 after purchasing an additional 210,869 shares during the period. 72.00% of the stock is currently owned by 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.
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