Goldman Sachs Group Inc. Reiterates Buy Rating for Philip Morris International Inc. (PM)
Philip Morris International Inc. (NYSE:PM)‘s stock had its “buy” rating reaffirmed by Goldman Sachs Group Inc. in a note issued to investors on Saturday. They currently have a $116.00 price objective on the stock. Goldman Sachs Group Inc.’s price objective would indicate a potential upside of 21.05% from the stock’s previous close.
A number of other analysts have also recently issued reports on the company. Zacks Investment Research raised Philip Morris International from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research report on Wednesday, October 5th. Jefferies Group set a $99.00 target price on Philip Morris International and gave the company a “hold” rating in a research report on Wednesday, October 5th. Morgan Stanley reissued an “overweight” rating and issued a $110.00 target price on shares of Philip Morris International in a research report on Tuesday, September 27th. Citigroup Inc. reissued a “neutral” rating and issued a $106.00 target price on shares of Philip Morris International in a research report on Monday, September 26th. Finally, Credit Agricole SA reissued an “outperform” rating on shares of Philip Morris International in a research report on Sunday, September 25th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $104.82.
Philip Morris International (NYSE:PM) traded down 0.38% during mid-day trading on Friday, hitting $95.83. The stock had a trading volume of 3,156,276 shares. The firm has a market cap of $148.66 billion, a P/E ratio of 22.93 and a beta of 0.95. Philip Morris International has a 12-month low of $83.27 and a 12-month high of $104.20. The stock has a 50-day moving average price of $98.78 and a 200 day moving average price of $99.65.
Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, July 19th. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by $0.05. The firm earned $6.65 billion during the quarter, compared to analyst estimates of $6.77 billion. Philip Morris International had a net margin of 8.84% and a negative return on equity of 57.28%. During the same period last year, the company earned $1.21 earnings per share. Equities analysts anticipate that Philip Morris International will post $4.51 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 13th. Shareholders of record on Wednesday, September 28th were given a dividend of $1.04 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.02. The ex-dividend date was Monday, September 26th. This represents a $4.16 annualized dividend and a yield of 4.34%. Philip Morris International’s dividend payout ratio (DPR) is presently 99.52%.
A number of institutional investors have recently added to or reduced their stakes in PM. Emerald Acquisition Ltd. bought a new position in Philip Morris International during the second quarter valued at $272,521,000. Vanguard Group Inc. increased its position in Philip Morris International by 2.6% in the second quarter. Vanguard Group Inc. now owns 99,323,022 shares of the company’s stock valued at $10,103,138,000 after buying an additional 2,501,571 shares during the last quarter. State Street Corp increased its position in Philip Morris International by 3.3% in the first quarter. State Street Corp now owns 57,800,062 shares of the company’s stock valued at $5,670,770,000 after buying an additional 1,821,500 shares during the last quarter. Bank of Montreal Can bought a new position in Philip Morris International during the second quarter valued at $173,009,000. Finally, BlackRock Fund Advisors increased its position in Philip Morris International by 6.6% in the second quarter. BlackRock Fund Advisors now owns 25,591,100 shares of the company’s stock valued at $2,603,127,000 after buying an additional 1,590,036 shares during the last quarter. 71.22% of the stock is owned by institutional investors.
About Philip Morris International
Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.
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