Philip Morris International Inc. (NYSE:PM) Stock Has Consensus Price Target of $209.70

Shares of Philip Morris International Inc. (NYSE:PM) have been given an average rating of “Moderate Buy” by the twelve analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $212.40.

A number of equities research analysts have weighed in on the company. Weiss Ratings upgraded Philip Morris International from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Argus increased their target price on Philip Morris International from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, October 26th. Citigroup raised their target price on Philip Morris International from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Needham & Company LLC boosted their price target on Philip Morris International from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Finally, UBS Group upped their price target on Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a research report on Thursday, October 22nd.

Philip Morris International Stock Performance

NYSE:PM opened at $201.26 on Tuesday. The company has a 50-day moving average of $195.42 and a 200-day moving average of $182.66. Philip Morris International has a 52 week low of $146.35 and a 52 week high of $214.35. The company has a market capitalization of $313.69 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 2.83 and a beta of 0.34.

Philip Morris International (NYSE:PM) last posted its earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.06. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same quarter in the previous year, the firm posted $2.24 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts forecast that Philip Morris International will post 8.32 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Friday, October 2nd were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Friday, October 2nd. This is a boost from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.2%. Philip Morris International’s dividend payout ratio (DPR) is 93.43%.

Institutional Investors Weigh In On Philip Morris International

Several institutional investors and hedge funds have recently made changes to their positions in the company. Silver Grove Financial Group Inc. boosted its stake in Philip Morris International by 3.0% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 1,896 shares of the company’s stock worth $362,000 after purchasing an additional 55 shares during the period. Financial Network Wealth Advisors LLC increased its holdings in Philip Morris International by 9.9% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 620 shares of the company’s stock worth $118,000 after purchasing an additional 56 shares in the last quarter. Hughes Financial Services LLC increased its holdings in Philip Morris International by 8.4% during the 3rd quarter. Hughes Financial Services LLC now owns 719 shares of the company’s stock worth $150,000 after purchasing an additional 56 shares in the last quarter. Platt Wealth Management LLC raised its stake in shares of Philip Morris International by 2.1% in the 2nd quarter. Platt Wealth Management LLC now owns 2,833 shares of the company’s stock valued at $512,000 after purchasing an additional 58 shares during the period. Finally, Security Financial Services INC. raised its stake in shares of Philip Morris International by 2.2% in the 3rd quarter. Security Financial Services INC. now owns 2,978 shares of the company’s stock valued at $568,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

About Philip Morris International

Philip Morris International Inc (NYSE:PM) is a global tobacco and nicotine company headquartered in Stamford, Connecticut. It was established as an independent company in 2008 following the separation of Philip Morris International from Altria Group. The company develops, manufactures and markets tobacco, nicotine and other related consumer products primarily outside the United States.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M, Chesterfield and Bond Street.