Investors Buy Philip Morris International Inc (NYSE:PM) on Weakness
Traders purchased shares of Philip Morris International Inc (NYSE:PM) on weakness during trading on Monday. $118.98 million flowed into the stock on the tick-up and $48.39 million flowed out of the stock on the tick-down, for a money net flow of $70.59 million into the stock. Of all companies tracked, Philip Morris International had the 4th highest net in-flow for the day. Philip Morris International traded down ($0.12) for the day and closed at $114.76
Several equities analysts have commented on PM shares. TheStreet raised Philip Morris International from a “c+” rating to a “b-” rating in a research report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $133.00 price objective (down previously from $134.00) on shares of Philip Morris International in a research report on Saturday, July 22nd. Vetr downgraded Philip Morris International from a “hold” rating to a “sell” rating and set a $111.99 price objective on the stock. in a research report on Monday, May 22nd. Cowen and Company reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Philip Morris International in a research report on Wednesday, April 19th. Finally, Bank of America Corporation upped their price objective on Philip Morris International from $120.00 to $123.00 and gave the company a “neutral” rating in a research report on Tuesday, May 30th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Philip Morris International has an average rating of “Buy” and a consensus price target of $121.79.
The stock has a 50-day moving average price of $117.56 and a 200-day moving average price of $112.93. The stock has a market cap of $178.24 billion, a price-to-earnings ratio of 25.43 and a beta of 0.93.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.09. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The firm had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.11 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, analysts forecast that Philip Morris International Inc will post $4.83 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of PM. Guidant Wealth Advisors boosted its position in Philip Morris International by 25.5% in the second quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock valued at $110,000 after buying an additional 191 shares during the last quarter. Gradient Investments LLC boosted its position in Philip Morris International by 76.1% in the first quarter. Gradient Investments LLC now owns 986 shares of the company’s stock valued at $111,000 after buying an additional 426 shares during the last quarter. Welch Investments LLC bought a new position in Philip Morris International during the first quarter valued at approximately $113,000. American Beacon Advisors Inc. bought a new position in Philip Morris International during the first quarter valued at approximately $114,000. Finally, Acropolis Investment Management LLC bought a new position in Philip Morris International during the first quarter valued at approximately $117,000. 72.30% of the stock is owned by institutional investors and hedge funds.
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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.
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