Philip Morris International Inc. (NYSE:PM) – Investment analysts at Jefferies Group dropped their FY2018 earnings per share estimates for Philip Morris International in a research report issued to clients and investors on Monday. Jefferies Group analyst O. Bennett now forecasts that the company will post earnings per share of $5.30 for the year, down from their prior forecast of $5.65. Jefferies Group has a “Buy” rating and a $124.00 price objective on the stock. Jefferies Group also issued estimates for Philip Morris International’s FY2019 earnings at $5.73 EPS, FY2020 earnings at $5.79 EPS and FY2021 earnings at $6.48 EPS.
Several other equities research analysts have also weighed in on the stock. Piper Jaffray Companies reiterated an “overweight” rating and set a $137.00 price objective (up previously from $130.00) on shares of Philip Morris International in a research note on Thursday, January 11th. Wells Fargo & Co reiterated an “outperform” rating and set a $135.00 price objective (down previously from $140.00) on shares of Philip Morris International in a research note on Wednesday, November 15th. Citigroup dropped their price objective on shares of Philip Morris International from $117.00 to $114.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Finally, Bank of America dropped their price objective on shares of Philip Morris International from $115.00 to $113.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $124.57.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, February 8th. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.04). Philip Morris International had a negative return on equity of 71.99% and a net margin of 7.73%. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.17 billion. During the same period in the previous year, the business posted $1.10 EPS. The business’s revenue for the quarter was up 19.0% on a year-over-year basis.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Doliver Capital Advisors LP boosted its holdings in Philip Morris International by 8.1% during the third quarter. Doliver Capital Advisors LP now owns 29,755 shares of the company’s stock worth $3,303,000 after buying an additional 2,242 shares in the last quarter. WFG Advisors LP boosted its holdings in Philip Morris International by 30.1% during the second quarter. WFG Advisors LP now owns 12,753 shares of the company’s stock worth $1,498,000 after buying an additional 2,951 shares in the last quarter. Swiss National Bank boosted its holdings in Philip Morris International by 1.0% during the third quarter. Swiss National Bank now owns 5,958,031 shares of the company’s stock worth $661,401,000 after buying an additional 58,900 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Philip Morris International by 25.3% during the third quarter. Canada Pension Plan Investment Board now owns 4,202,010 shares of the company’s stock worth $466,465,000 after buying an additional 848,700 shares in the last quarter. Finally, Fundsmith LLP boosted its holdings in Philip Morris International by 1.5% during the second quarter. Fundsmith LLP now owns 5,240,912 shares of the company’s stock worth $615,545,000 after buying an additional 79,106 shares in the last quarter. Institutional investors and hedge funds own 72.33% of the company’s stock.
In other Philip Morris International news, CEO Andre Calantzopoulos sold 49,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $103.66, for a total value of $5,079,340.00. Following the sale, the chief executive officer now owns 792,765 shares in the company, valued at $82,178,019.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marc S. Firestone sold 13,650 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $104.63, for a total transaction of $1,428,199.50. Following the transaction, the insider now owns 189,199 shares in the company, valued at approximately $19,795,891.37. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 11th. Shareholders of record on Thursday, March 22nd will be paid a $1.07 dividend. The ex-dividend date is Wednesday, March 21st. This represents a $4.28 annualized dividend and a dividend yield of 3.95%. Philip Morris International’s payout ratio is currently 87.17%.
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Philip Morris International Company Profile
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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