Philip Morris International Inc (PM) Earns Buy Rating from Goldman Sachs Group, Inc. (The)
Goldman Sachs Group, Inc. (The) reissued their buy rating on shares of Philip Morris International Inc (NYSE:PM) in a research report sent to investors on Saturday morning. Goldman Sachs Group, Inc. (The) currently has a $133.00 price objective on the stock, down from their previous price objective of $134.00.
Several other research firms have also commented on PM. Zacks Investment Research upgraded shares of Philip Morris International from a hold rating to a buy rating and set a $126.00 price target for the company in a report on Wednesday, March 29th. Berenberg Bank set a $96.00 price target on shares of Philip Morris International and gave the company a hold rating in a report on Saturday, June 24th. Jefferies Group LLC restated a hold rating and issued a $104.00 price target on shares of Philip Morris International in a report on Friday, March 24th. Vetr upgraded shares of Philip Morris International from a sell rating to a hold rating and set a $111.99 price target for the company in a report on Tuesday, May 16th. Finally, Wells Fargo & Company reiterated an outperform rating on shares of Philip Morris International in a research note on Friday, June 9th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $122.00.
Philip Morris International (NYSE PM) opened at 117.82 on Friday. The company has a market cap of $182.97 billion, a P/E ratio of 26.11 and a beta of 0.94. The firm’s 50 day moving average is $119.53 and its 200-day moving average is $110.96. 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 posted its quarterly earnings results on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing the 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 business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $7.11 billion. During the same quarter in the prior year, the firm posted $1.15 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, analysts predict that Philip Morris International will post $4.84 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 11th. Stockholders of record on Friday, June 23rd were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Wednesday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is currently 92.24%.
Several hedge funds have recently added to or reduced their stakes in the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Philip Morris International during the fourth quarter valued at approximately $351,755,000. C WorldWide Group Holding A S increased its stake in Philip Morris International by 70.9% in the first quarter. C WorldWide Group Holding A S now owns 3,027,193 shares of the company’s stock valued at $341,770,000 after buying an additional 1,255,776 shares during the period. Franklin Resources Inc. increased its stake in Philip Morris International by 16.5% in the fourth quarter. Franklin Resources Inc. now owns 8,753,376 shares of the company’s stock valued at $800,847,000 after buying an additional 1,240,300 shares during the period. Swiss National Bank increased its stake in Philip Morris International by 26.2% in the first quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock valued at $646,548,000 after buying an additional 1,189,800 shares during the period. Finally, State Street Corp increased its stake in Philip Morris International by 1.8% in the first quarter. State Street Corp now owns 59,926,871 shares of the company’s stock valued at $6,766,079,000 after buying an additional 1,058,408 shares during the period. 72.33% of the stock is currently owned by institutional investors and hedge funds.
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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