Shares of Philip Morris International Inc. (NYSE:PM) have been assigned an average rating of “Buy” from the fourteen brokerages that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $91.42.
PM has been the subject of several research reports. Citigroup reiterated a “hold” rating and set a $75.00 price target on shares of Philip Morris International in a research note on Tuesday, June 30th. Piper Sandler reiterated a “buy” rating and set a $98.00 price target on shares of Philip Morris International in a research note on Tuesday, August 4th. Goldman Sachs Group increased their price target on Philip Morris International from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, September 23rd. Stifel Nicolaus increased their price target on Philip Morris International from $85.00 to $90.00 in a research note on Wednesday, July 22nd. Finally, ValuEngine downgraded Philip Morris International from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd.
In other Philip Morris International news, Director Louis C. Camilleri sold 75,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $77.73, for a total value of $5,829,750.00. Company insiders own 0.22% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Capital World Investors grew its position in Philip Morris International by 24.0% during the 1st quarter. Capital World Investors now owns 90,972,989 shares of the company’s stock worth $6,637,389,000 after acquiring an additional 17,583,436 shares during the last quarter. State Street Corp grew its position in Philip Morris International by 1.1% during the 1st quarter. State Street Corp now owns 61,136,786 shares of the company’s stock worth $4,531,459,000 after acquiring an additional 661,043 shares during the last quarter. Capital International Investors grew its position in Philip Morris International by 19.9% during the 1st quarter. Capital International Investors now owns 43,979,756 shares of the company’s stock worth $3,208,763,000 after acquiring an additional 7,299,147 shares during the last quarter. Morgan Stanley grew its position in Philip Morris International by 8.4% during the 1st quarter. Morgan Stanley now owns 42,365,463 shares of the company’s stock worth $3,090,983,000 after acquiring an additional 3,285,330 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Philip Morris International by 4.0% during the 1st quarter. Geode Capital Management LLC now owns 26,812,159 shares of the company’s stock worth $1,953,240,000 after acquiring an additional 1,024,228 shares during the last quarter. Hedge funds and other institutional investors own 73.98% of the company’s stock.
NYSE:PM traded up $0.32 during trading on Monday, reaching $74.46. The company’s stock had a trading volume of 2,912,892 shares, compared to its average volume of 5,451,037. The firm has a market cap of $115.96 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 2.29 and a beta of 0.76. The firm has a 50 day moving average of $78.64 and a 200-day moving average of $74.40. Philip Morris International has a 12 month low of $56.01 and a 12 month high of $90.17.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.19. The firm had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $6.54 billion. Philip Morris International had a negative return on equity of 80.24% and a net margin of 9.54%. The business’s revenue for the quarter was down 13.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. Equities analysts forecast that Philip Morris International will post 5.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, September 24th will be issued a $1.20 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a $4.80 annualized dividend and a dividend yield of 6.45%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.17. Philip Morris International’s dividend payout ratio (DPR) is presently 92.49%.
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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