Philip Morris International Inc (NYSE:PM) Downgraded to Sell at BidaskClub

BidaskClub downgraded shares of Philip Morris International Inc (NYSE:PM) from a hold rating to a sell rating in a research report released on Saturday.

Other analysts also recently issued research reports about the stock. Berenberg Bank set a $96.00 target price on shares of Philip Morris International and gave the stock a hold rating in a research report on Saturday, June 24th. Jefferies Group LLC increased their target price on shares of Philip Morris International from $111.00 to $120.00 and gave the stock a hold rating in a research report on Monday, May 22nd. Citigroup Inc. increased their target price on shares of Philip Morris International from $107.00 to $118.00 and gave the stock a neutral rating in a research report on Tuesday, April 25th. Vetr downgraded shares of Philip Morris International from a hold rating to a sell rating and set a $117.88 target price for the company. in a research report on Monday, June 19th. Finally, Piper Jaffray Companies reissued an overweight rating and set a $131.00 target price on shares of Philip Morris International in a research report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Philip Morris International currently has an average rating of Buy and an average price target of $122.00.

Philip Morris International (NYSE:PM) traded up 0.24% during midday trading on Friday, reaching $114.76. 4,567,961 shares of the company traded hands. Philip Morris International has a 12 month low of $86.78 and a 12 month high of $123.55. The firm has a market capitalization of $178.24 billion, a PE ratio of 25.43 and a beta of 0.93. The company’s 50-day moving average price is $118.90 and its 200 day moving average price is $112.12.

Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.09. The business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.11 billion. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $1.15 EPS. On average, equities analysts anticipate that Philip Morris International will post $4.83 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which was paid on Tuesday, July 11th. Shareholders of record on Friday, June 23rd were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Wednesday, June 21st. Philip Morris International’s dividend payout ratio is presently 92.24%.

Institutional investors have recently added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Philip Morris International during the fourth quarter worth $351,755,000. Amerigo Asset Management acquired a new position in Philip Morris International during the second quarter valued at approximately $209,061,000. Canada Pension Plan Investment Board boosted its position in Philip Morris International by 60.4% in the second quarter. Canada Pension Plan Investment Board now owns 3,353,310 shares of the company’s stock valued at $393,846,000 after buying an additional 1,262,200 shares during the period. C WorldWide Group Holding A S boosted its position in Philip Morris International by 70.9% in the first quarter. C WorldWide Group Holding A S now owns 3,027,193 shares of the company’s stock valued at $341,770,000 after buying an additional 1,255,776 shares during the period. Finally, Swiss National Bank boosted its position in Philip Morris International by 26.2% in the first quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock valued at $646,548,000 after buying an additional 1,189,800 shares during the period. Hedge funds and other institutional investors own 72.33% of the company’s stock.

About Philip Morris International

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.