Philip Morris International Inc (PM) Earns Outperform Rating from Wells Fargo & Company
Wells Fargo & Company reiterated their outperform rating on shares of Philip Morris International Inc (NYSE:PM) in a research note issued to investors on Wednesday morning. They currently have a $135.00 price target on the stock, down from their previous price target of $140.00.
Other analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Philip Morris International from a c+ rating to a b- rating in a research report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reiterated a buy rating and set a $133.00 target price (down previously from $134.00) on shares of Philip Morris International in a research report on Saturday, July 22nd. Cowen and Company reiterated a buy rating and set a $135.00 target price on shares of Philip Morris International in a research report on Tuesday, August 22nd. Piper Jaffray Companies set a $134.00 target price on shares of Philip Morris International and gave the company a buy rating in a research report on Saturday, August 19th. Finally, Societe Generale upgraded shares of Philip Morris International from a hold rating to a buy rating in a research report on Friday, October 20th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $124.23.
Shares of Philip Morris International (NYSE:PM) opened at $102.64 on Wednesday. The company has a market cap of $159,420.75, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 2.07 and a beta of 0.91. Philip Morris International has a 1 year low of $86.78 and a 1 year high of $123.55. The company has a current ratio of 1.13, a quick ratio of 0.68 and a debt-to-equity ratio of -2.91.
Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.11). The business had revenue of $7.50 billion for the quarter, compared to the consensus estimate of $7.75 billion. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. equities research analysts forecast that Philip Morris International will post 4.75 earnings per share for the current fiscal year.
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In related news, insider Drago Azinovic sold 14,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total value of $1,624,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Louis C. Camilleri sold 108,979 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total transaction of $11,811,144.02. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in PM. Guidant Wealth Advisors boosted its stake in Philip Morris International by 25.5% in the 2nd quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock worth $110,000 after purchasing an additional 191 shares during the period. American Beacon Advisors Inc. acquired a new position in shares of Philip Morris International during the 1st quarter worth about $114,000. NewSquare Capital LLC boosted its stake in shares of Philip Morris International by 6,572.3% during the 3rd quarter. NewSquare Capital LLC now owns 101,753 shares of the company’s stock worth $116,000 after buying an additional 100,228 shares during the last quarter. Vantage Investment Advisors LLC boosted its stake in shares of Philip Morris International by 1.0% during the 2nd quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock worth $121,000 after buying an additional 10 shares during the last quarter. Finally, Acropolis Investment Management LLC boosted its stake in shares of Philip Morris International by 0.5% during the 2nd quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock worth $123,000 after buying an additional 5 shares during the last quarter. 72.22% of the stock is owned by hedge funds and other institutional investors.
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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