Philip Morris International (NYSE:PM) Coverage Initiated by Analysts at Sanford C. Bernstein

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Investment analysts at Sanford C. Bernstein began coverage on shares of Philip Morris International (NYSE:PM) in a note issued to investors on Tuesday, October 16th, MarketBeat Ratings reports. The firm set an “outperform” rating and a $97.00 price target on the stock. Sanford C. Bernstein’s price target indicates a potential upside of 8.77% from the company’s current price.

PM has been the topic of several other reports. Zacks Investment Research downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. ValuEngine upgraded shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. Jefferies Financial Group restated a “buy” rating and issued a $93.00 price target on shares of Philip Morris International in a research note on Friday, July 13th. Citigroup increased their price objective on shares of Philip Morris International from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, September 21st. Finally, Piper Jaffray Companies set a $99.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a research note on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Buy” and a consensus price target of $98.08.

NYSE PM traded down $0.30 on Tuesday, hitting $89.18. 5,159,256 shares of the stock were exchanged, compared to its average volume of 6,770,145. The firm has a market capitalization of $138.46 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 2.04 and a beta of 0.58. Philip Morris International has a 52 week low of $76.21 and a 52 week high of $111.25.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, October 18th. The company reported $1.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.16. The company had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.16 billion. Philip Morris International had a net margin of 8.20% and a negative return on equity of 78.80%. The company’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.27 earnings per share. As a group, sell-side analysts expect that Philip Morris International will post 5.01 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Alerus Financial NA raised its holdings in Philip Morris International by 11.3% in the 2nd quarter. Alerus Financial NA now owns 87,413 shares of the company’s stock valued at $7,058,000 after buying an additional 8,897 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Philip Morris International by 11.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 201,092 shares of the company’s stock valued at $16,235,000 after buying an additional 20,196 shares during the last quarter. Zacks Investment Management raised its holdings in Philip Morris International by 7.4% in the 2nd quarter. Zacks Investment Management now owns 527,234 shares of the company’s stock valued at $42,569,000 after buying an additional 36,303 shares during the last quarter. IMA Wealth Inc. bought a new position in Philip Morris International in the 2nd quarter valued at approximately $149,000. Finally, Jupiter Asset Management Ltd. raised its holdings in Philip Morris International by 102.3% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 72,816 shares of the company’s stock valued at $5,879,000 after buying an additional 36,816 shares during the last quarter. Institutional investors own 72.76% of the company’s stock.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

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Analyst Recommendations for Philip Morris International (NYSE:PM)

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