Vetr Inc. Upgrades Philip Morris International Inc. (PM) to Hold
Philip Morris International Inc. (NYSE:PM) was upgraded by investment analysts at Vetr from a “sell” rating to a “hold” rating in a research note issued on Thursday. The brokerage presently has a $108.70 target price on the stock. Vetr‘s target price points to a potential downside of 1.16% from the stock’s previous close.
PM has been the subject of several other research reports. Cowen and Company reiterated an “outperform” rating and set a $120.00 target price on shares of Philip Morris International in a research report on Wednesday. Jefferies Group LLC set a $111.00 target price on Philip Morris International and gave the stock a “hold” rating in a research report on Wednesday. Barclays PLC increased their target price on Philip Morris International from $108.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 29th. Wells Fargo & Co reiterated an “outperform” rating and set a $110.00 target price on shares of Philip Morris International in a research report on Wednesday, December 21st. Finally, Bank of America Corp cut Philip Morris International from a “buy” rating to a “neutral” rating and cut their target price for the stock from $102.00 to $96.00 in a research report on Wednesday, January 4th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $111.98.
Shares of Philip Morris International (NYSE:PM) traded down 3.45% on Thursday, reaching $109.98. The company’s stock had a trading volume of 9,707,171 shares. The company has a market capitalization of $170.62 billion, a price-to-earnings ratio of 24.55 and a beta of 0.94. The company’s 50-day moving average is $112.40 and its 200 day moving average is $99.33. Philip Morris International has a 12-month low of $86.78 and a 12-month high of $115.63. Philip Morris International also was the recipient of unusually large options trading on Thursday. Stock traders purchased 1,051 put options on the stock. This represents an increase of approximately 487% compared to the typical volume of 179 put options.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, April 20th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by $0.05. Philip Morris International had a negative return on equity of 64.94% and a net margin of 9.30%. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts anticipate that Philip Morris International will post $4.88 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 11th. Investors of record on Thursday, March 23rd were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date was Tuesday, March 21st. Philip Morris International’s payout ratio is presently 92.86%.
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In related news, CEO Andre Calantzopoulos sold 35,000 shares of the stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $102.65, for a total transaction of $3,592,750.00. Following the completion of the transaction, the chief executive officer now directly owns 787,671 shares of the company’s stock, valued at $80,854,428.15. The sale was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Gradient Investments LLC raised its stake 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. Acropolis Investment Management LLC bought a new stake in Philip Morris International during the first quarter valued at about $117,000. Gemmer Asset Management LLC raised its stake in Philip Morris International by 40.6% in the first quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock valued at $126,000 after buying an additional 322 shares during the last quarter. Cornerstone Advisors Inc. raised its stake in Philip Morris International by 1.1% in the third quarter. Cornerstone Advisors Inc. now owns 1,155 shares of the company’s stock valued at $112,000 after buying an additional 13 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Philip Morris International during the fourth quarter valued at about $106,000. 71.65% of the stock is owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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