Morgan Stanley restated their overweight rating on shares of Philip Morris International Inc. (NYSE:PM) in a research report sent to investors on Tuesday morning. They currently have a $110.00 price objective on the stock.
A number of other research firms have also recently commented on PM. Zacks Investment Research upgraded shares of Philip Morris International from a sell rating to a hold rating in a report on Wednesday, July 20th. Wells Fargo & Co. restated an outperform rating and issued a $115.00 price target on shares of Philip Morris International in a report on Thursday, September 22nd. Goldman Sachs Group Inc. upgraded shares of Philip Morris International from a neutral rating to a buy rating and increased their target price for the stock from $106.00 to $114.00 in a report on Monday, September 12th. Vetr upgraded shares of Philip Morris International from a hold rating to a buy rating and set a $110.00 target price on the stock in a report on Tuesday, September 13th. Finally, JPMorgan Chase & Co. upgraded shares of Philip Morris International from a neutral rating to an overweight rating and set a $112.00 target price on the stock in a report on Friday, June 17th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $104.82.
Philip Morris International (NYSE:PM) opened at 97.22 on Tuesday. Philip Morris International has a one year low of $80.00 and a one year high of $104.20. The firm has a 50-day moving average of $99.85 and a 200 day moving average of $99.77. The stock has a market capitalization of $150.82 billion, a PE ratio of 23.26 and a beta of 0.95.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $1.15 EPS for the quarter, missing the Zacks’ consensus estimate of $1.20 by $0.05. The company earned $6.65 billion during the quarter, compared to the consensus estimate of $6.77 billion. Philip Morris International had a negative return on equity of 57.28% and a net margin of 8.84%. During the same quarter in the previous year, the company posted $1.21 earnings per share. On average, equities research analysts anticipate that Philip Morris International will post $4.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Wednesday, September 28th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 4.28%. The ex-dividend date is Monday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.02. Philip Morris International’s dividend payout ratio is 99.52%.
Institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. acquired a new position in shares of Philip Morris International during the second quarter valued at $272,521,000. Vanguard Group Inc. boosted its stake in shares of Philip Morris International by 2.6% in the second quarter. Vanguard Group Inc. now owns 99,323,022 shares of the company’s stock worth $10,103,138,000 after buying an additional 2,501,571 shares during the last quarter. State Street Corp boosted its stake in shares of Philip Morris International by 3.3% in the first quarter. State Street Corp now owns 57,800,062 shares of the company’s stock worth $5,670,770,000 after buying an additional 1,821,500 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Philip Morris International during the second quarter worth approximately $173,009,000. Finally, BlackRock Fund Advisors boosted its stake in shares of Philip Morris International by 6.6% in the second quarter. BlackRock Fund Advisors now owns 25,591,100 shares of the company’s stock worth $2,603,127,000 after buying an additional 1,590,036 shares during the last quarter. Institutional investors own 71.22% of the company’s stock.
Philip Morris International Company Profile
Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.
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