Citigroup cut shares of Philip Morris International (NYSE:PM) from a buy rating to a neutral rating in a report published on Monday morning, BenzingaRatingsTable reports. Citigroup currently has $90.00 price target on the stock.
Several other equities analysts have also recently weighed in on PM. ValuEngine cut shares of Philip Morris International from a hold rating to a sell rating in a research note on Monday, November 25th. JPMorgan Chase & Co. set a $86.00 price target on shares of Philip Morris International and gave the stock a neutral rating in a research note on Wednesday, August 28th. Bank of America raised shares of Philip Morris International from a neutral rating to a buy rating and set a $96.00 price target for the company in a research note on Tuesday, October 1st. Stifel Nicolaus reaffirmed a buy rating on shares of Philip Morris International in a research note on Tuesday, October 15th. Finally, Wells Fargo & Co decreased their price target on shares of Philip Morris International from $102.00 to $100.00 and set an outperform rating for the company in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $92.27.
Shares of PM opened at $82.10 on Monday. The stock has a market capitalization of $129.03 billion, a P/E ratio of 16.10, a P/E/G ratio of 2.02 and a beta of 1.01. Philip Morris International has a twelve month low of $64.67 and a twelve month high of $92.74. The company has a 50 day moving average of $82.50 and a 200-day moving average of $80.16.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, October 17th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.08. The company had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Philip Morris International had a net margin of 9.59% and a negative return on equity of 82.33%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the business earned $1.44 EPS. Equities research analysts forecast that Philip Morris International will post 5.22 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Shufro Rose & Co. LLC lifted its holdings in Philip Morris International by 50.0% during the 2nd quarter. Shufro Rose & Co. LLC now owns 2,850 shares of the company’s stock valued at $224,000 after purchasing an additional 950 shares during the last quarter. Westside Investment Management Inc. acquired a new stake in Philip Morris International during the 2nd quarter valued at $312,000. Artemis Investment Management LLP lifted its holdings in Philip Morris International by 1,340.8% during the 2nd quarter. Artemis Investment Management LLP now owns 70,497 shares of the company’s stock valued at $5,529,000 after purchasing an additional 65,604 shares during the last quarter. Manning & Napier Group LLC lifted its holdings in Philip Morris International by 10.8% during the 2nd quarter. Manning & Napier Group LLC now owns 382,250 shares of the company’s stock valued at $30,017,000 after purchasing an additional 37,400 shares during the last quarter. Finally, HCR Wealth Advisors lifted its holdings in Philip Morris International by 4.0% during the 2nd quarter. HCR Wealth Advisors now owns 5,386 shares of the company’s stock valued at $423,000 after purchasing an additional 207 shares during the last quarter. 73.12% of the stock is owned by institutional investors.
Philip Morris International Company Profile
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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