Piper Jaffray Companies set a $134.00 price objective on Philip Morris International Inc (NYSE:PM) in a research note published on Saturday morning. The brokerage currently has a buy rating on the stock.
A number of other research analysts have also recently issued reports on PM. SBG Securities upgraded shares of Philip Morris International from a sell rating to a hold rating and lifted their target price for the company from $118.00 to $119.00 in a research note on Friday, August 11th. Berenberg Bank set a $96.00 target price on shares of Philip Morris International and gave the company a hold rating in a research note on Saturday, June 24th. BidaskClub cut shares of Philip Morris International from a strong-buy rating to a buy rating in a research note on Tuesday, June 13th. Bank of America Corporation lifted their target price on shares of Philip Morris International from $120.00 to $123.00 and gave the company a neutral rating in a research note on Tuesday, May 30th. Finally, Jefferies Group LLC lifted their target price on shares of Philip Morris International from $111.00 to $120.00 and gave the company a hold rating in a research note on Monday, May 22nd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Philip Morris International currently has a consensus rating of Buy and an average target price of $121.79.
Philip Morris International (NYSE PM) opened at 116.25 on Friday. The company has a market capitalization of $180.56 billion, a price-to-earnings ratio of 25.76 and a beta of 0.93. The company has a 50-day moving average price of $117.17 and a 200-day moving average price of $114.03. Philip Morris International has a one year low of $86.78 and a one year high of $123.55.
Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $7.11 billion. During the same quarter last year, the firm posted $1.15 EPS. The business’s revenue was up 4.0% on a year-over-year basis. Equities research analysts anticipate that Philip Morris International will post $4.83 EPS for the current year.
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Hedge funds have recently added to or reduced their stakes in the company. Guidant Wealth Advisors raised its stake in Philip Morris International by 25.5% in the second quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock worth $110,000 after buying an additional 191 shares in the last quarter. 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 worth $111,000 after buying an additional 426 shares in the last quarter. Welch Investments LLC acquired a new stake in Philip Morris International during the first quarter worth approximately $113,000. American Beacon Advisors Inc. acquired a new stake in Philip Morris International during the first quarter worth approximately $114,000. Finally, Acropolis Investment Management LLC acquired a new stake in Philip Morris International during the first quarter worth approximately $117,000. 72.30% of the stock is owned by hedge funds and other institutional investors.
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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