Philip Morris International (NYSE:PM) Price Target Raised to $232.00

Philip Morris International (NYSE:PM) had its price objective upped by Stifel Nicolaus from $205.00 to $232.00 in a research report released on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

PM has been the topic of several other reports. Citigroup lifted their target price on shares of Philip Morris International from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Philip Morris International from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Morgan Stanley raised their price objective on shares of Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Barclays lifted their price objective on shares of Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, Argus boosted their target price on shares of Philip Morris International from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, October 26th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $212.40.

Philip Morris International Stock Down 4.7%

Shares of Philip Morris International stock opened at $201.26 on Tuesday. The stock’s fifty day moving average is $195.42 and its 200-day moving average is $182.66. The firm has a market capitalization of $313.69 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 2.83 and a beta of 0.34. Philip Morris International has a 12-month low of $146.35 and a 12-month high of $214.35.

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

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Friday, October 2nd were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, October 2nd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. Philip Morris International’s payout ratio is currently 93.43%.

Institutional Investors Weigh In On Philip Morris International

Institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Philip Morris International in the second quarter valued at approximately $29,000. Cedar Mountain Advisors LLC boosted its stake in shares of Philip Morris International by 60.2% in the first quarter. Cedar Mountain Advisors LLC now owns 189 shares of the company’s stock valued at $31,000 after buying an additional 71 shares during the period. Kelly Lawrence W & Associates Inc. CA acquired a new stake in Philip Morris International during the second quarter worth approximately $34,000. Kilter Group LLC acquired a new stake in Philip Morris International during the second quarter worth approximately $35,000. Finally, Wilkerson Advisory Group LLC grew its position in Philip Morris International by 109.2% during the first quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company’s stock worth $34,000 after buying an additional 107 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Company Profile

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.