Philip Morris International Inc (NYSE:PM) announced a quarterly dividend on Friday, June 9th, RTT News reports. Shareholders of record on Friday, June 23rd will be given a dividend of 1.04 per share on Tuesday, July 11th. This represents a $4.16 annualized dividend and a yield of 3.38%. The ex-dividend date is Wednesday, June 21st.
Philip Morris International has increased its dividend payment by an average of 5.5% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. Philip Morris International has a payout ratio of 85.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Philip Morris International to earn $5.52 per share next year, which means the company should continue to be able to cover its $4.16 annual dividend with an expected future payout ratio of 75.4%.
Shares of Philip Morris International (NYSE:PM) opened at 122.90 on Tuesday. The stock has a market capitalization of $190.88 billion, a P/E ratio of 27.20 and a beta of 0.94. Philip Morris International has a 1-year low of $86.78 and a 1-year high of $122.98. The firm’s 50-day moving average is $116.67 and its 200 day moving average is $106.11.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, April 20th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.03 by $0.05. The business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.47 billion. Philip Morris International had a net margin of 9.40% and a negative return on equity of 65.44%. Philip Morris International’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS. On average, analysts expect that Philip Morris International will post $4.90 EPS for the current fiscal year.
Several equities analysts recently weighed in on PM shares. Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research report on Wednesday, March 29th. Jefferies Group LLC reissued a “hold” rating and issued a $104.00 price target on shares of Philip Morris International in a research report on Friday, March 24th. Vetr raised shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $111.99 price target on the stock in a research report on Tuesday, May 16th. Wells Fargo & Company reissued an “outperform” rating on shares of Philip Morris International in a research report on Friday, June 9th. Finally, Citigroup Inc. lifted their price target on shares of Philip Morris International from $107.00 to $118.00 and gave the company a “neutral” rating in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. Philip Morris International currently has an average rating of “Buy” and a consensus price target of $120.16.
A number of large investors have recently bought and sold shares of PM. Vanguard Group Inc. increased its stake in Philip Morris International by 3.7% in the first quarter. Vanguard Group Inc. now owns 108,502,245 shares of the company’s stock worth $12,249,904,000 after buying an additional 3,833,912 shares in the last quarter. BlackRock Inc. increased its stake in Philip Morris International by 4,037.9% in the first quarter. BlackRock Inc. now owns 89,375,296 shares of the company’s stock worth $10,090,472,000 after buying an additional 87,215,382 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Philip Morris International by 6.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 31,766,969 shares of the company’s stock worth $3,586,492,000 after buying an additional 1,879,534 shares in the last quarter. Wellington Management Group LLP increased its stake in Philip Morris International by 1.4% in the first quarter. Wellington Management Group LLP now owns 26,808,184 shares of the company’s stock worth $3,026,645,000 after buying an additional 361,617 shares in the last quarter. Finally, FMR LLC increased its stake in Philip Morris International by 13.7% in the first quarter. FMR LLC now owns 18,588,337 shares of the company’s stock worth $2,098,623,000 after buying an additional 2,241,836 shares in the last quarter. Hedge funds and other institutional investors own 72.33% of the company’s stock.
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About Philip Morris International
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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