Barclays Has Lowered Expectations for Philip Morris International (NYSE:PM) Stock Price

Philip Morris International (NYSE:PM) had its target price lowered by equities research analysts at Barclays from $155.00 to $145.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 19.45% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Citigroup increased their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. The Goldman Sachs Group raised their price objective on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, UBS Group boosted their target price on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $130.39.

Philip Morris International Stock Performance

Shares of PM stock opened at $121.39 on Wednesday. The firm’s 50 day moving average price is $127.03 and its two-hundred day moving average price is $120.45. The stock has a market cap of $188.74 billion, a PE ratio of 19.27, a PEG ratio of 2.22 and a beta of 0.54. Philip Morris International has a 52-week low of $87.82 and a 52-week high of $134.15.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the company earned $1.67 EPS. As a group, sell-side analysts predict that Philip Morris International will post 6.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the transaction, the chairman now directly owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Philip Morris International

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new stake in Philip Morris International in the second quarter valued at $25,000. Sachetta LLC raised its holdings in shares of Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares during the period. Valley Wealth Managers Inc. lifted its stake in Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after purchasing an additional 183 shares during the last quarter. Dunhill Financial LLC grew its holdings in Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 161 shares during the period. Finally, Concord Wealth Partners increased its position in Philip Morris International by 2,709.1% during the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after buying an additional 298 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.