Philip Morris International Inc (NYSE:PM)‘s stock had its “buy” rating reaffirmed by analysts at Cowen and Company in a research report issued to clients and investors on Sunday.

Several other research analysts have also weighed in on PM. SBG Securities raised Philip Morris International from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $118.00 to $119.00 in a research report on Friday, August 11th. Berenberg Bank set a $96.00 price objective on Philip Morris International and gave the stock a “hold” rating in a research report on Saturday, June 24th. BidaskClub lowered Philip Morris International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Bank of America Corporation lifted their price objective on Philip Morris International from $120.00 to $123.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 30th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $121.00 price objective on shares of Philip Morris International in a research report on Tuesday, June 20th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Philip Morris International presently has a consensus rating of “Buy” and a consensus target price of $122.79.

Philip Morris International (PM) opened at 112.51 on Friday. The firm has a market capitalization of $174.75 billion, a PE ratio of 24.93 and a beta of 0.94. The firm has a 50-day moving average price of $116.11 and a 200-day moving average price of $115.73. Philip Morris International has a 1-year low of $86.78 and a 1-year high of $123.55.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.09). Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $7.11 billion. During the same period last year, the business posted $1.15 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. Equities analysts expect that Philip Morris International will post $4.83 earnings per share for the current fiscal year.

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In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of Philip Morris International stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total transaction of $1,624,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Philip Morris International by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock worth $13,092,759,000 after buying an additional 2,972,929 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Philip Morris International by 2.7% in the 2nd quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock worth $10,781,538,000 after buying an additional 2,421,533 shares during the last quarter. State Street Corp boosted its stake in shares of Philip Morris International by 1.8% in the 1st quarter. State Street Corp now owns 59,926,871 shares of the company’s stock worth $6,766,079,000 after buying an additional 1,058,408 shares during the last quarter. FMR LLC boosted its stake in shares of Philip Morris International by 12.5% in the 2nd quarter. FMR LLC now owns 20,919,201 shares of the company’s stock worth $2,456,960,000 after buying an additional 2,330,864 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Philip Morris International by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 7,422,457 shares of the company’s stock worth $871,687,000 after buying an additional 210,869 shares during the last quarter. Institutional investors and hedge funds own 72.01% of the company’s stock.

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.

Analyst Recommendations for Philip Morris International (NYSE:PM)

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