Citigroup Trims Philip Morris International (PM) Target Price to $114.00

Philip Morris International (NYSE:PM) had its target price lowered by Citigroup from $117.00 to $114.00 in a research report report published on Tuesday, MarketBeat reports. The firm currently has a neutral rating on the stock.

A number of other brokerages have also recently commented on PM. Jefferies Group lowered their target price on Philip Morris International from $120.00 to $116.00 and set a hold rating on the stock in a report on Thursday, October 12th. Piper Jaffray Companies set a $135.00 target price on Philip Morris International and gave the company a buy rating in a report on Sunday, October 15th. Wells Fargo & Co reiterated an outperform rating and set a $140.00 target price on shares of Philip Morris International in a report on Tuesday, October 10th. Cowen reiterated a buy rating on shares of Philip Morris International in a report on Sunday, September 24th. Finally, Goldman Sachs Group upgraded Philip Morris International from a buy rating to a conviction-buy rating and set a $135.00 target price on the stock in a report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $125.31.

Shares of Philip Morris International (NYSE PM) traded up $3.85 during trading hours on Tuesday, reaching $108.92. The company’s stock had a trading volume of 5,820,000 shares, compared to its average volume of 4,500,000. The firm has a market cap of $169,170.00, a PE ratio of 24.04, a PEG ratio of 1.91 and a beta of 0.89. The company has a current ratio of 1.13, a quick ratio of 0.68 and a debt-to-equity ratio of -2.91. Philip Morris International has a 52-week low of $93.23 and a 52-week high of $123.55.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.11). The company had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.75 billion. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. Philip Morris International’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.25 EPS. equities analysts anticipate that Philip Morris International will post 4.75 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 11th. Stockholders of record on Thursday, December 21st were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend was Wednesday, December 20th. Philip Morris International’s dividend payout ratio (DPR) is 94.48%.

In other news, Chairman Louis C. Camilleri sold 108,979 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total transaction of $11,811,144.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.23% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of PM. Vanguard Group Inc. raised its position in Philip Morris International by 2.7% in the second quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock valued at $13,092,759,000 after purchasing an additional 2,972,929 shares during the period. Flossbach Von Storch AG raised its position in Philip Morris International by 539.3% in the third quarter. Flossbach Von Storch AG now owns 3,491,075 shares of the company’s stock valued at $387,544,000 after purchasing an additional 2,945,025 shares during the period. BlackRock Inc. raised its position in Philip Morris International by 2.7% in the second quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock valued at $10,781,538,000 after purchasing an additional 2,421,533 shares during the period. FMR LLC raised its position in Philip Morris International by 12.5% in the second quarter. FMR LLC now owns 20,919,201 shares of the company’s stock valued at $2,456,960,000 after purchasing an additional 2,330,864 shares during the period. Finally, Alliancebernstein L.P. raised its position in Philip Morris International by 57.8% in the second quarter. Alliancebernstein L.P. now owns 5,840,773 shares of the company’s stock valued at $685,999,000 after purchasing an additional 2,139,002 shares during the period. 72.35% of the stock is currently owned by institutional investors and hedge funds.

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Philip Morris International Company Profile

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.

Analyst Recommendations for Philip Morris International (NYSE:PM)

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