Philip Morris International (NYSE:PM) was upgraded by investment analysts at Societe Generale from a “hold” rating to a “buy” rating in a research note issued on Tuesday, The Fly reports.
PM has been the subject of several other reports. Zacks Investment Research downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Morgan Stanley decreased their target price on shares of Philip Morris International from $102.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, January 8th. ValuEngine downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. Jefferies Financial Group reissued a “hold” rating and set a $80.00 target price on shares of Philip Morris International in a research report on Sunday, February 10th. Finally, Citigroup boosted their target price on shares of Philip Morris International from $90.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $91.85.
Shares of NYSE PM opened at $83.81 on Tuesday. Philip Morris International has a 1-year low of $64.67 and a 1-year high of $92.74. The stock has a market cap of $133.33 billion, a PE ratio of 16.43, a P/E/G ratio of 2.15 and a beta of 0.93.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, April 18th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. Philip Morris International had a net margin of 9.74% and a negative return on equity of 78.74%. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same quarter in the prior year, the business earned $1.00 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. Sell-side analysts forecast that Philip Morris International will post 5.23 EPS for the current fiscal year.
In other news, Director Louis C. Camilleri sold 70,000 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $83.54, for a total transaction of $5,847,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andre Calantzopoulos sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $84.76, for a total transaction of $4,238,000.00. Following the transaction, the chief executive officer now directly owns 844,901 shares of the company’s stock, valued at $71,613,808.76. The disclosure for this sale can be found here. Insiders have sold a total of 121,200 shares of company stock valued at $10,186,984 over the last three months. Insiders own 0.21% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. IFG Advisory LLC lifted its stake in Philip Morris International by 9.9% in the 1st quarter. IFG Advisory LLC now owns 16,449 shares of the company’s stock worth $1,453,000 after purchasing an additional 1,486 shares in the last quarter. Morgan Dempsey Capital Management LLC lifted its stake in Philip Morris International by 17.3% in the 1st quarter. Morgan Dempsey Capital Management LLC now owns 66,590 shares of the company’s stock worth $5,886,000 after purchasing an additional 9,820 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in Philip Morris International in the 1st quarter worth approximately $264,000. Piedmont Investment Advisors Inc. lifted its stake in Philip Morris International by 184.6% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 136,616 shares of the company’s stock worth $12,075,000 after purchasing an additional 88,618 shares in the last quarter. Finally, Barings LLC lifted its stake in Philip Morris International by 307.9% in the 1st quarter. Barings LLC now owns 24,774 shares of the company’s stock worth $2,189,000 after purchasing an additional 18,700 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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