Citigroup Increases Philip Morris International (PM) Price Target to $100.00

Philip Morris International (NYSE:PM) had its price target lifted by Citigroup from $95.00 to $100.00 in a research report sent to investors on Friday morning. Citigroup currently has a buy rating on the stock.

Other analysts also recently issued research reports about the company. Jefferies Financial Group downgraded Philip Morris International from a buy rating to a hold rating and set a $80.00 price target on the stock. in a report on Friday, August 24th. Stifel Nicolaus cut their price target on Philip Morris International from $100.00 to $93.00 and set a buy rating on the stock in a report on Friday, July 20th. ValuEngine downgraded Philip Morris International from a sell rating to a strong sell rating in a report on Thursday, August 23rd. Morgan Stanley cut their price target on Philip Morris International from $111.00 to $102.00 and set an overweight rating on the stock in a report on Tuesday, July 17th. Finally, Cowen downgraded Philip Morris International from an outperform rating to a market perform rating and set a $97.00 price target on the stock. in a report on Friday, July 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. Philip Morris International has a consensus rating of Hold and a consensus price target of $98.08.

Shares of PM opened at $87.51 on Friday. The company has a market capitalization of $138.09 billion, a PE ratio of 17.75, a PEG ratio of 2.06 and a beta of 0.79. The company has a quick ratio of 0.64, a current ratio of 1.19 and a debt-to-equity ratio of -2.83. Philip Morris International has a 52 week low of $76.21 and a 52 week high of $111.25.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, October 18th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.28 by $0.16. The company had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.16 billion. Philip Morris International had a negative return on equity of 78.80% and a net margin of 8.20%. The business’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 EPS. Equities analysts expect that Philip Morris International will post 5 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Wednesday, September 26th were paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend was Tuesday, September 25th. Philip Morris International’s payout ratio is currently 92.49%.

A number of institutional investors have recently made changes to their positions in PM. Fundsmith Equity Fund L.P. bought a new stake in Philip Morris International during the 2nd quarter valued at $845,763,000. Flossbach Von Storch AG raised its stake in Philip Morris International by 48.1% during the 2nd quarter. Flossbach Von Storch AG now owns 14,212,696 shares of the company’s stock valued at $1,147,533,000 after acquiring an additional 4,618,289 shares in the last quarter. Morgan Stanley raised its stake in shares of Philip Morris International by 23.9% in the 2nd quarter. Morgan Stanley now owns 22,738,044 shares of the company’s stock worth $1,835,871,000 after buying an additional 4,386,487 shares in the last quarter. Coronation Fund Managers Ltd. raised its stake in shares of Philip Morris International by 1,884.4% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 3,877,270 shares of the company’s stock worth $313,051,000 after buying an additional 3,681,882 shares in the last quarter. Finally, Charles Schwab Investment Advisory Inc. bought a new stake in shares of Philip Morris International in the 2nd quarter worth $277,027,000. 72.93% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

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