Barclays Upgrades Philip Morris International (NYSE:PM) to “Overweight”

Barclays upgraded shares of Philip Morris International (NYSE:PM) from an equal weight rating to an overweight rating in a research note released on Friday morning, BenzingaRatingsTable reports. The firm currently has $100.00 price target on the stock, up from their prior price target of $82.00.

A number of other research firms have also recently issued reports on PM. Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit from a sell rating to a hold rating in a report on Thursday, May 23rd. Bank of America set a $120.00 target price on shares of Walmart and gave the company a buy rating in a research note on Friday, May 17th. Societe Generale upgraded shares of Philip Morris International from a hold rating to a buy rating in a research note on Tuesday, May 7th. ValuEngine lowered shares of United Rentals from a sell rating to a strong sell rating in a report on Thursday. Finally, Citigroup boosted their price target on shares of Philip Morris International from $90.00 to $102.00 and gave the stock a buy rating in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. Philip Morris International currently has a consensus rating of Buy and an average target price of $93.00.

PM stock opened at $88.73 on Friday. Philip Morris International has a 52-week low of $64.67 and a 52-week high of $92.74. The company’s 50-day moving average price is $79.17. The company has a market capitalization of $138.05 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 2.20 and a beta of 0.96.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.13. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same period in the prior year, the company earned $1.41 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, research analysts predict that Philip Morris International will post 5.24 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st were given a dividend of $1.14 per share. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $4.56 annualized dividend and a yield of 5.14%. Philip Morris International’s dividend payout ratio (DPR) is presently 89.41%.

In other news, Director Louis C. Camilleri sold 70,000 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $83.54, for a total transaction of $5,847,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Michael R. Kunst acquired 1,000 shares of the stock in a transaction dated Friday, May 31st. The shares were purchased at an average price of $79.66 per share, for a total transaction of $79,660.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,000 shares of company stock worth $331,705 over the last three months. Insiders own 0.21% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in PM. Claybrook Capital LLC acquired a new position in Philip Morris International in the 4th quarter valued at about $39,000. Clarfeld Financial Advisors LLC acquired a new position in Philip Morris International in the 4th quarter valued at about $40,000. CX Institutional grew its stake in Philip Morris International by 432.1% in the 1st quarter. CX Institutional now owns 447 shares of the company’s stock valued at $40,000 after buying an additional 363 shares during the last quarter. HMS Capital Management LLC acquired a new position in Philip Morris International in the 2nd quarter valued at about $46,000. Finally, Shamrock Asset Management LLC grew its stake in Philip Morris International by 53.9% in the 1st quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock valued at $50,000 after buying an additional 200 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

Philip Morris International Company Profile

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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