Piper Jaffray Companies Reiterates $100.00 Price Target for Philip Morris International (PM)

Piper Jaffray Companies set a $100.00 target price on Philip Morris International (NYSE:PM) in a research report released on Friday morning. The brokerage currently has a buy rating on the stock. Piper Jaffray Companies also issued estimates for Philip Morris International’s Q2 2019 earnings at $1.44 EPS, Q3 2019 earnings at $1.54 EPS, Q4 2019 earnings at $1.47 EPS, FY2019 earnings at $5.45 EPS, Q1 2020 earnings at $1.21 EPS, Q2 2020 earnings at $1.57 EPS, Q3 2020 earnings at $1.69 EPS, Q4 2020 earnings at $1.57 EPS and FY2020 earnings at $6.04 EPS.

Other analysts have also issued reports about the company. Sanford C. Bernstein assumed coverage on Philip Morris International in a research note on Tuesday, October 16th. They issued an outperform rating and a $97.00 price objective on the stock. ValuEngine raised Philip Morris International from a sell rating to a hold rating in a research note on Thursday, October 18th. Citigroup raised their price objective on Philip Morris International from $95.00 to $100.00 and gave the company a buy rating in a research note on Friday, October 19th. Societe Generale set a $95.00 price objective on Philip Morris International and gave the company a hold rating in a research note on Monday, October 22nd. Finally, Zacks Investment Research raised Philip Morris International from a sell rating to a hold rating in a research note on Wednesday, October 24th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $91.25.

PM opened at $79.98 on Friday. The firm has a market cap of $124.34 billion, a PE ratio of 15.68, a P/E/G ratio of 1.70 and a beta of 0.91. Philip Morris International has a 52-week low of $64.67 and a 52-week high of $109.90.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, February 7th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.09. The company had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.46 billion. Philip Morris International had a negative return on equity of 76.82% and a net margin of 9.90%. Philip Morris International’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.32 EPS. Research analysts anticipate that Philip Morris International will post 5.38 earnings per share for the current year.

In other Philip Morris International news, Director Louis C. Camilleri sold 59,495 shares of the stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $86.98, for a total value of $5,174,875.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of PM. Strategic Investment Advisors MI bought a new position in shares of Philip Morris International during the fourth quarter worth about $448,000. Foyston Gordon & Payne Inc raised its position in shares of Philip Morris International by 5.8% during the fourth quarter. Foyston Gordon & Payne Inc now owns 223,221 shares of the company’s stock worth $14,902,000 after acquiring an additional 12,171 shares during the last quarter. Highstreet Asset Management Inc. raised its position in shares of Philip Morris International by 4.9% during the fourth quarter. Highstreet Asset Management Inc. now owns 25,377 shares of the company’s stock worth $1,694,000 after acquiring an additional 1,176 shares during the last quarter. Ffcm LLC grew its stake in Philip Morris International by 7.3% during the fourth quarter. Ffcm LLC now owns 120,286 shares of the company’s stock worth $8,030,000 after purchasing an additional 8,148 shares during the period. Finally, AGF Investments America Inc. grew its stake in Philip Morris International by 2.0% during the fourth quarter. AGF Investments America Inc. now owns 49,110 shares of the company’s stock worth $3,279,000 after purchasing an additional 985 shares during the period. Hedge funds and other institutional investors own 73.17% of the company’s stock.

About Philip Morris International

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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Analyst Recommendations for Philip Morris International (NYSE:PM)

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