Stock analysts at JPMorgan Chase & Co. started coverage on shares of Philip Morris International (NYSE:PM – Get Free Report) in a research report issued on Tuesday, FinViz reports. The brokerage set a “neutral” rating and a $200.00 price target on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 3.54% from the stock’s previous close.
Several other research analysts have also weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Philip Morris International from $205.00 to $232.00 and gave the company a “buy” rating in a research note on Tuesday, November 3rd. Argus increased their price target on Philip Morris International from $210.00 to $220.00 and gave the company a “buy” rating in a report on Monday, October 26th. Barclays lifted their price objective on Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. BTIG Research set a $221.00 target price on Philip Morris International and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Needham & Company LLC raised their target price on Philip Morris International from $215.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.90.
Check Out Our Latest Analysis on Philip Morris International
Philip Morris International Trading Down 2.4%
Shares of PM stock opened at $193.16 on Tuesday. Philip Morris International has a 1-year low of $146.35 and a 1-year high of $214.35. The company has a market capitalization of $301.07 billion, a price-to-earnings ratio of 28.20, a P/E/G ratio of 2.83 and a beta of 0.34. The stock’s fifty day simple moving average is $195.59 and its 200-day simple moving average is $182.93.
Philip Morris International (NYSE:PM – Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.06. The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $11.32 billion. Philip Morris International had a negative return on equity of 183.96% and a net margin of 10.73%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.24 EPS. On average, sell-side analysts predict that Philip Morris International will post 8.32 EPS for the current year.
Institutional Trading of Philip Morris International
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in Philip Morris International by 30.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock valued at $2,111,198,000 after purchasing an additional 2,755,662 shares during the last quarter. Teamwork Financial Advisors LLC grew its holdings in Philip Morris International by 2,662.6% during the second quarter. Teamwork Financial Advisors LLC now owns 65,695 shares of the company’s stock worth $11,885,000 after purchasing an additional 63,317 shares during the period. Perennial Investment Advisors LLC acquired a new position in Philip Morris International during the second quarter worth approximately $505,000. Orographic Financial Advisors LLC acquired a new position in Philip Morris International during the first quarter worth approximately $1,205,000. Finally, Principal Financial Group Inc. increased its position in Philip Morris International by 0.5% during the first quarter. Principal Financial Group Inc. now owns 1,749,744 shares of the company’s stock worth $289,303,000 after buying an additional 9,047 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.
About Philip Morris International
Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands.
The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.
Philip Morris International became an independent publicly traded company in 2008 after separating from Altria Group.
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