Philip Morris International (PM) – Research Analysts’ Recent Ratings Changes

Philip Morris International (NYSE: PM) has recently received a number of price target changes and ratings updates:

  • 10/30/2017 – Philip Morris International was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Shares of Philip Morris have declined in the past three months, underperforming the industry. Though the company has been benefiting from enhanced volumes and revenues in the reduced risk products category, it has been suffering majorly due to consistent declines in cigarette volumes stemming from the shift of customer preference away from tobacco products. Owing to such headwinds, Phillip Morris continued with its drab performance in third-quarter 2017, wherein both earnings and revenues lagged the Zacks Consensus Estimate. These factors also compelled management to lower its 2017 view. Nevertheless, Philip Morris’ consistent efforts to improve the performance of its low risk products remain encouraging. In this category, the company’s IQOS smokeless cigarette have been steadily expanding owing to consumer demand.  Higher cigarette pricing has also been favoring the company.”
  • 10/24/2017 – Philip Morris International was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Phillip Morris continued with its drab performance in third-quarter 2017, wherein both earnings and revenues lagged the Zacks Consensus Estimate. While the company has been benefiting from enhanced volumes and revenues in the reduced risk products category, it suffered majorly due to consistent declines in cigarette volumes stemming from the shift of customer preference away from tobacco products. Government regulations concerning the manufacturing and marketing of tobacco products have also been hampering Philip Morris’ growth. Additionally, unfavorable currency movements remain a headwind. All these factors compelled management to lowered its 2017 view. Nevertheless, Philip Morris’ consistent efforts to improve the performance of its low risk products remain encouraging.While Philip Morris has seen its shares decline 7.2% in the past three months, its performance has been nearly in line with the industry.”
  • 10/22/2017 – Philip Morris International had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $130.00 price target on the stock.
  • 10/20/2017 – Philip Morris International had its price target lowered by analysts at Citigroup Inc. from $125.00 to $117.00. They now have a “neutral” rating on the stock.
  • 10/20/2017 – Philip Morris International was upgraded by analysts at Societe Generale from a “hold” rating to a “buy” rating.
  • 10/20/2017 – Philip Morris International had its price target lowered by analysts at Bank of America Corporation from $124.00 to $121.00. They now have a “neutral” rating on the stock.
  • 10/20/2017 – Philip Morris International had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $114.00 price target on the stock.
  • 10/15/2017 – Philip Morris International was given a new $135.00 price target on by analysts at Piper Jaffray Companies. They now have a “buy” rating on the stock.
  • 10/12/2017 – Philip Morris International had its price target lowered by analysts at Jefferies Group LLC from $120.00 to $116.00. They now have a “hold” rating on the stock.
  • 10/10/2017 – Philip Morris International had its “outperform” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $140.00 price target on the stock.
  • 10/2/2017 – Philip Morris International is now covered by analysts at Goldman Sachs Group, Inc. (The). They set a “buy” rating on the stock.
  • 9/28/2017 – Philip Morris International was upgraded by analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “conviction-buy” rating. They now have a $135.00 price target on the stock.
  • 9/28/2017 – Philip Morris International had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $120.00 price target on the stock.
  • 9/24/2017 – Philip Morris International had its “buy” rating reaffirmed by analysts at Cowen and Company.

Philip Morris International Inc (NYSE:PM) opened at 104.64 on Wednesday. Philip Morris International Inc has a 52 week low of $86.78 and a 52 week high of $123.55. The company has a 50 day moving average price of $111.85 and a 200 day moving average price of $115.39. The stock has a market cap of $162.53 billion, a price-to-earnings ratio of 23.19 and a beta of 0.93.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.11). Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The company had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.75 billion. During the same period last year, the business posted $1.25 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Analysts expect that Philip Morris International Inc will post $4.75 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th were issued a $1.07 dividend. The ex-dividend date was Tuesday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 dividend on an annualized basis and a yield of 4.09%. Philip Morris International’s dividend payout ratio (DPR) is 94.48%.

In other Philip Morris International news, Chairman Louis C. Camilleri sold 108,979 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total value of $11,811,144.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Drago Azinovic sold 14,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total transaction of $1,624,000.00. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

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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