Philip Morris International (NYSE:PM) - Stock analysts at Piper Jaffray cut their Q2 2018 earnings estimates for Philip Morris International in a research note issued to investors on Thursday, April 19th. Piper Jaffray analyst M. Lavery now anticipates that the company will post earnings of $1.28 per share for the quarter, down from their prior estimate of $1.29. Piper Jaffray has a “Buy” rating and a $126.00 price target on the stock. Piper Jaffray also issued estimates for Philip Morris International’s Q3 2018 earnings at $1.46 EPS, Q4 2018 earnings at $1.51 EPS, FY2018 earnings at $5.25 EPS, Q1 2019 earnings at $1.22 EPS, Q2 2019 earnings at $1.39 EPS, Q3 2019 earnings at $1.53 EPS and Q4 2019 earnings at $1.62 EPS.
A number of other analysts have also weighed in on PM. Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Jefferies Group upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 target price for the company in a report on Friday, January 19th. Citigroup upgraded Philip Morris International from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a report on Wednesday, February 28th. They noted that the move was a valuation call. Morgan Stanley upped their target price on Philip Morris International from $120.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Finally, Bank of America lowered Philip Morris International from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $113.00 to $88.00 in a report on Friday, April 20th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $116.86.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, February 8th. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The firm had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.17 billion. Philip Morris International had a net margin of 7.50% and a negative return on equity of 72.40%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 EPS.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Front Row Advisors LLC acquired a new position in shares of Philip Morris International in the 4th quarter valued at $118,000. Wolverine Asset Management LLC acquired a new position in shares of Philip Morris International in the 4th quarter valued at $126,000. Financial Engines Advisors L.L.C. increased its position in shares of Philip Morris International by 399.2% in the 3rd quarter. Financial Engines Advisors L.L.C. now owns 1,203 shares of the company’s stock valued at $134,000 after acquiring an additional 962 shares during the period. Cerebellum GP LLC acquired a new position in shares of Philip Morris International in the 4th quarter valued at $128,000. Finally, Bank of Nova Scotia Trust Co. acquired a new position in shares of Philip Morris International in the 3rd quarter valued at $135,000. 72.25% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Marc S. Firestone sold 13,650 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $104.63, for a total value of $1,428,199.50. Following the transaction, the insider now directly owns 189,199 shares of the company’s stock, valued at approximately $19,795,891.37. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andre Calantzopoulos sold 49,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $103.66, for a total value of $5,079,340.00. Following the completion of the transaction, the chief executive officer now directly owns 792,765 shares in the company, valued at $82,178,019.90. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 11th. Stockholders of record on Thursday, March 22nd were given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date was Wednesday, March 21st. Philip Morris International’s payout ratio is presently 86.82%.
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.
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.
