FY2020 EPS Estimates for Philip Morris International Inc. (NYSE:PM) Boosted by Jefferies Financial Group
Philip Morris International Inc. (NYSE:PM) – Investment analysts at Jefferies Financial Group lifted their FY2020 earnings per share (EPS) estimates for Philip Morris International in a research note issued on Monday, November 4th. Jefferies Financial Group analyst O. Bennett now forecasts that the company will post earnings per share of $5.62 for the year, up from their prior forecast of $5.40.
A number of other brokerages also recently commented on PM. Barclays upgraded shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $82.00 to $100.00 in a report on Friday, July 19th. Stifel Nicolaus reiterated a “buy” rating on shares of Philip Morris International in a report on Tuesday, October 15th. Cowen reiterated a “hold” rating on shares of Philip Morris International in a report on Thursday, September 12th. Credit Suisse Group set a $80.00 price target on Philip Morris International and gave the stock a “sell” rating in a research note on Wednesday, August 28th. Finally, Morgan Stanley dropped their price target on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. Philip Morris International currently has an average rating of “Buy” and an average target price of $92.27.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, October 17th. The company reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.08. The business had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.65 billion. Philip Morris International had a net margin of 9.59% and a negative return on equity of 82.33%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Wednesday, September 25th were paid a dividend of $1.17 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $4.68 dividend on an annualized basis and a dividend yield of 5.59%. Philip Morris International’s payout ratio is presently 91.76%.
Several hedge funds have recently modified their holdings of PM. MUFG Americas Holdings Corp boosted its position in Philip Morris International by 6.1% in the third quarter. MUFG Americas Holdings Corp now owns 168,225 shares of the company’s stock valued at $12,774,000 after buying an additional 9,645 shares during the last quarter. Valmark Advisers Inc. boosted its position in Philip Morris International by 6.5% in the third quarter. Valmark Advisers Inc. now owns 24,391 shares of the company’s stock valued at $1,852,000 after buying an additional 1,493 shares during the last quarter. Cetera Investment Advisers boosted its position in Philip Morris International by 7.1% in the third quarter. Cetera Investment Advisers now owns 14,787 shares of the company’s stock valued at $1,129,000 after buying an additional 976 shares during the last quarter. Financial Architects Inc boosted its position in Philip Morris International by 51.0% in the third quarter. Financial Architects Inc now owns 6,920 shares of the company’s stock valued at $525,000 after buying an additional 2,338 shares during the last quarter. Finally, Cetera Advisors LLC boosted its position in Philip Morris International by 10.3% in the third quarter. Cetera Advisors LLC now owns 28,987 shares of the company’s stock valued at $2,203,000 after buying an additional 2,695 shares during the last quarter. Institutional investors and hedge funds own 74.17% of the company’s stock.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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