Philip Morris International (NYSE:PM) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Philip Morris International (NYSE:PM) from a hold rating to a buy rating in a research report report published on Monday.

Separately, Stifel Nicolaus raised their target price on Philip Morris International from $108.00 to $115.00 and gave the company a buy rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $107.80.

Philip Morris International Stock Up 1.6 %

NYSE PM opened at $113.22 on Monday. Philip Morris International has a 12-month low of $87.23 and a 12-month high of $113.68. The firm has a 50-day moving average price of $102.99 and a two-hundred day moving average price of $96.40. The company has a market capitalization of $176.01 billion, a P/E ratio of 22.11, a P/E/G ratio of 2.27 and a beta of 0.58.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.02. Philip Morris International had a net margin of 10.92% and a negative return on equity of 113.32%. The business had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter in the prior year, the business posted $1.60 earnings per share. Philip Morris International’s revenue was up 5.6% compared to the same quarter last year. Equities analysts expect that Philip Morris International will post 6.38 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were issued a dividend of $1.30 per share. The ex-dividend date was Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a yield of 4.59%. Philip Morris International’s payout ratio is currently 101.56%.

Institutional Investors Weigh In On Philip Morris International

Institutional investors and hedge funds have recently made changes to their positions in the business. Kessler Investment Group LLC bought a new stake in Philip Morris International in the 1st quarter valued at about $25,000. Iron Horse Wealth Management LLC raised its position in shares of Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares during the period. Boyd Watterson Asset Management LLC OH grew its position in Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after purchasing an additional 230 shares during the period. Fortitude Family Office LLC increased its stake in Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of Philip Morris International in the 4th quarter worth about $33,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.