Citigroup Inc. reiterated their neutral rating on shares of Philip Morris International Inc. (NYSE:PM) in a report issued on Monday morning. The brokerage currently has a $106.00 target price on the stock.
A number of other analysts have also commented on the company. Goldman Sachs Group Inc. reissued a neutral rating and set a $105.00 price objective (up from $99.00) on shares of Philip Morris International in a report on Friday, July 15th. Vetr raised Philip Morris International from a hold rating to a buy rating and set a $105.50 price objective for the company in a report on Monday, June 20th. Wells Fargo & Co. reissued an outperform rating on shares of Philip Morris International in a report on Thursday, September 15th. JPMorgan Chase & Co. upgraded Philip Morris International from a neutral rating to an overweight rating and set a $112.00 target price on the stock in a research note on Friday, June 17th. Finally, SBG Securities upgraded Philip Morris International from a sell rating to a hold rating in a research note on Wednesday, July 20th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $104.71.
Philip Morris International (NYSE:PM) opened at 99.41 on Monday. The firm has a market capitalization of $154.22 billion, a PE ratio of 23.78 and a beta of 0.97. Philip Morris International has a 12 month low of $78.41 and a 12 month high of $104.20. The company’s 50-day moving average price is $99.93 and its 200 day moving average price is $99.78.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by $0.05. The company had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.77 billion. Philip Morris International had a negative return on equity of 57.28% and a net margin of 8.84%. During the same period in the prior year, the firm posted $1.21 earnings per share. On average, equities research analysts predict that Philip Morris International will post $4.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Wednesday, September 28th will be issued a $1.04 dividend. The ex-dividend date is Monday, September 26th. This represents a $4.16 annualized dividend and a dividend yield of 4.18%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.02. Philip Morris International’s dividend payout ratio is presently 99.52%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PM. Vanguard Group Inc. boosted its position in Philip Morris International by 2.6% in the second quarter. Vanguard Group Inc. now owns 99,323,022 shares of the company’s stock valued at $10,103,138,000 after buying an additional 2,501,571 shares during the last quarter. State Street Corp boosted its position in Philip Morris International by 3.3% in the first quarter. State Street Corp now owns 57,800,062 shares of the company’s stock worth $5,670,770,000 after buying an additional 1,821,500 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Philip Morris International by 0.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 39,191,696 shares of the company’s stock worth $3,986,579,000 after buying an additional 317,150 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Philip Morris International by 1.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 27,895,822 shares of the company’s stock worth $2,837,563,000 after buying an additional 514,983 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its position in Philip Morris International by 6.6% in the second quarter. BlackRock Fund Advisors now owns 25,591,100 shares of the company’s stock worth $2,603,127,000 after buying an additional 1,590,036 shares in the last quarter. 71.22% of the stock is currently owned by hedge funds and other institutional investors.
About Philip Morris International
Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.
Receive News & Ratings for Philip Morris International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.