ValuEngine Upgrades Philip Morris International (PM) to “Hold”

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Philip Morris International (NYSE:PM) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

A number of other equities research analysts also recently issued reports on PM. Piper Jaffray Companies set a $110.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a research report on Monday, December 3rd. Credit Suisse Group downgraded shares of Philip Morris International from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $92.00 to $74.00 in a research report on Tuesday, December 18th. Morgan Stanley reduced their price objective on shares of Philip Morris International from $102.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, January 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Philip Morris International in a research report on Sunday, February 10th. Finally, Zacks Investment Research upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Thursday, February 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $91.86.

PM stock traded up $1.06 during trading on Friday, reaching $90.85. The stock had a trading volume of 12,348,393 shares, compared to its average volume of 6,466,613. Philip Morris International has a one year low of $64.67 and a one year high of $105.80. The company has a market capitalization of $141.23 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.85 and a beta of 0.95.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, February 7th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.09. Philip Morris International had a net margin of 9.90% and a negative return on equity of 76.82%. The business had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.46 billion. During the same period in the prior year, the firm posted $1.32 EPS. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, research analysts predict that Philip Morris International will post 5.36 earnings per share for the current fiscal year.

In other Philip Morris International news, CEO Andre Calantzopoulos sold 50,000 shares of the business’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $84.76, for a total value of $4,238,000.00. Following the transaction, the chief executive officer now directly owns 844,901 shares in the company, valued at $71,613,808.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Essex Investment Management Co. LLC purchased a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $27,000. Transamerica Financial Advisors Inc. lifted its stake in shares of Philip Morris International by 552.8% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 470 shares of the company’s stock valued at $32,000 after buying an additional 398 shares in the last quarter. Clean Yield Group purchased a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $37,000. Claybrook Capital LLC purchased a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $39,000. Finally, Litman Gregory Asset Management LLC purchased a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $40,000. Institutional investors own 74.45% of the company’s stock.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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Analyst Recommendations for Philip Morris International (NYSE:PM)

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