Philip Morris (PM) Announces Quarterly Dividend of $0.85

Philip Morris (NYSE:PM) announced a quarterly dividend on Wednesday, June 12th, AnalystRatings.Net reports. Shareholders of record on Thursday, June 27th will be paid a dividend of $0.85 per share on Friday, July 12th. This represents a $3.40 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Tuesday, June 25th.

PM has been the subject of a number of recent research reports. Analysts at Jefferies Group reiterated a “hold” rating on shares of Philip Morris in a research note to investors on Wednesday, June 5th. They now have a $95.00 price target on the stock. On a related note, analysts at TheStreet reiterated a “hold” rating on shares of Philip Morris in a research note to investors on Tuesday, May 28th. Finally, analysts at Nomura reiterated a “neutral” rating on shares of Philip Morris in a research note to investors on Thursday, May 23rd. They now have a $93.99 price target on the stock.

Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $97.23.

Philip Morris (NYSE: PM) opened at 91.23 on Wednesday. Philip Morris has a 52-week low of $82.10 and a 52-week high of $96.73. The stock’s 50-day moving average is currently $93.74. The company has a market cap of $149.2 billion and a price-to-earnings ratio of 17.54.

Philip Morris (NYSE: PM) last issued its quarterly earnings data on Thursday, April 18th. The company reported $1.29 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.34 by $0.05. The company had revenue of $7.58 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter last year, the company posted $1.25 earnings per share. Philip Morris’s revenue was up 1.8% compared to the same quarter last year. Philip Morris has set its FY13 guidance at $5.55-5.65 EPS. On average, analysts predict that Philip Morris will post $5.59 earnings per share for the current fiscal year.

Philip Morris International Inc. (NYSE: PM) is a holding company.

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