Philip Morris International Inc (PM) Price Target Cut to $121.00
Philip Morris International Inc (NYSE:PM) had its price objective reduced by stock analysts at Bank of America Corporation from $124.00 to $121.00 in a note issued to investors on Friday. The firm currently has a “neutral” rating on the stock. Bank of America Corporation’s price objective would indicate a potential upside of 11.88% from the stock’s previous close.
A number of other research analysts have also recently issued reports on PM. Berenberg Bank set a $96.00 price target on shares of Philip Morris International and gave the company a “hold” rating in a research report on Saturday, June 24th. Vetr raised shares of Philip Morris International from a “strong sell” rating to a “buy” rating and set a $128.00 price target for the company in a research report on Monday, June 26th. BidaskClub cut shares of Philip Morris International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $133.00 price target (down from $134.00) on shares of Philip Morris International in a research report on Saturday, July 22nd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Philip Morris International presently has a consensus rating of “Buy” and a consensus price target of $125.15.
Shares of Philip Morris International (PM) traded up 1.04% during trading on Friday, hitting $109.28. 3,440,405 shares of the stock traded hands. The firm has a market cap of $169.73 billion, a price-to-earnings ratio of 24.21 and a beta of 0.93. The company has a 50 day moving average price of $114.14 and a 200 day moving average price of $115.73. Philip Morris International has a 12 month low of $86.78 and a 12 month high of $123.55.
Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11). Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The company had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.75 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts anticipate that Philip Morris International will post $4.84 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 shares were sold at an average price of $116.00, for a total value of $1,624,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Perpetual Ltd purchased a new position in Philip Morris International in the second quarter worth about $1,867,000. MPS Loria Financial Planners LLC bought a new stake in shares of Philip Morris International in the second quarter worth approximately $379,000. Frontier Investment Mgmt Co. bought a new stake in shares of Philip Morris International in the second quarter worth approximately $268,000. W. E. Donoghue & Co. LLC bought a new stake in shares of Philip Morris International in the second quarter worth approximately $15,605,000. Finally, Intl Fcstone Inc. bought a new stake in shares of Philip Morris International in the second quarter worth approximately $2,201,000. 72.00% of the stock is owned by institutional investors and hedge funds.
Philip Morris International Company Profile
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.
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