Philip Morris International (NYSE:PM) Lowered to “Hold” at Argus

Argus cut shares of Philip Morris International (NYSE:PM) from a buy rating to a hold rating in a research note released on Friday, AnalystRatings.net reports.

Other equities analysts also recently issued reports about the stock. Citigroup raised shares of Philip Morris International from a neutral rating to a buy rating and lifted their price objective for the stock from $82.00 to $100.00 in a report on Wednesday, October 7th. Goldman Sachs Group lifted their price objective on shares of Philip Morris International from $85.00 to $100.00 and gave the stock a buy rating in a report on Wednesday, September 23rd. Bank of America lifted their price objective on shares of Philip Morris International from $90.00 to $92.00 and gave the stock a buy rating in a report on Friday, September 11th. Piper Sandler reaffirmed a buy rating and set a $98.00 price objective on shares of Philip Morris International in a report on Tuesday, August 4th. Finally, Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $85.00 to $90.00 in a report on Wednesday, July 22nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $92.91.

Shares of PM stock opened at $73.65 on Friday. The firm has a market capitalization of $114.69 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 2.15 and a beta of 0.78. The firm has a fifty day simple moving average of $77.57 and a two-hundred day simple moving average of $75.24. 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 results on Tuesday, October 20th. The company reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.06. The business had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.27 billion. Philip Morris International had a net margin of 9.54% and a negative return on equity of 80.24%. Philip Morris International’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 EPS. Research analysts anticipate that Philip Morris International will post 5.08 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 13th. Investors of record on Thursday, September 24th were issued a $1.20 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.17. This represents a $4.80 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date of this dividend was Wednesday, September 23rd. Philip Morris International’s payout ratio is 92.49%.

In other Philip Morris International news, Director Louis C. Camilleri sold 75,000 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $77.73, for a total transaction of $5,829,750.00. 0.22% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in Philip Morris International by 1.1% during the first quarter. State Street Corp now owns 61,136,786 shares of the company’s stock valued at $4,531,459,000 after purchasing an additional 661,043 shares during the last quarter. Morgan Stanley lifted its holdings in Philip Morris International by 8.4% during the first quarter. Morgan Stanley now owns 42,365,463 shares of the company’s stock valued at $3,090,983,000 after purchasing an additional 3,285,330 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in Philip Morris International by 2.7% during the second quarter. First Eagle Investment Management LLC now owns 12,898,497 shares of the company’s stock valued at $903,669,000 after purchasing an additional 341,773 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Philip Morris International by 1.1% during the second quarter. Federated Hermes Inc. now owns 7,894,568 shares of the company’s stock valued at $553,094,000 after purchasing an additional 83,026 shares during the last quarter. Finally, Independent Franchise Partners LLP lifted its holdings in Philip Morris International by 47.4% during the second quarter. Independent Franchise Partners LLP now owns 7,135,405 shares of the company’s stock valued at $499,906,000 after purchasing an additional 2,294,843 shares during the last quarter. 73.98% of the stock is currently owned by institutional investors and hedge funds.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, 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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Analyst Recommendations for Philip Morris International (NYSE:PM)

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