Philip Morris International Inc. (NYSE:PM) – Jefferies Financial Group issued their FY2019 earnings per share estimates for shares of Philip Morris International in a research report issued to clients and investors on Wednesday, April 17th. Jefferies Financial Group analyst O. Bennett forecasts that the company will post earnings of $5.14 per share for the year. Jefferies Financial Group currently has a “Hold” rating and a $80.00 target price on the stock. Jefferies Financial Group also issued estimates for Philip Morris International’s FY2020 earnings at $5.47 EPS, FY2021 earnings at $5.88 EPS and FY2022 earnings at $6.05 EPS.
A number of other equities research analysts also recently weighed in on the company. Morgan Stanley boosted their price target on Philip Morris International from $88.00 to $94.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Zacks Investment Research downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine downgraded Philip Morris International from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Bank of America restated a “sell” rating and set a $74.00 price objective on shares of Philip Morris International in a research note on Tuesday, March 26th. Finally, Citigroup upped their price objective on Philip Morris International from $90.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $92.43.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, April 18th. The company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.10. Philip Morris International had a negative return on equity of 76.82% and a net margin of 9.90%. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same period in the previous year, the business earned $1.00 EPS. The business’s quarterly revenue was down 2.1% on a year-over-year basis.
A number of hedge funds have recently made changes to their positions in PM. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Philip Morris International in the fourth quarter valued at $5,362,000. Thrivent Financial for Lutherans lifted its holdings in shares of Philip Morris International by 25.1% in the third quarter. Thrivent Financial for Lutherans now owns 181,402 shares of the company’s stock valued at $14,791,000 after buying an additional 36,357 shares during the period. Avalon Advisors LLC lifted its holdings in shares of Philip Morris International by 5,917.2% in the fourth quarter. Avalon Advisors LLC now owns 1,250,502 shares of the company’s stock valued at $83,484,000 after buying an additional 1,229,720 shares during the period. Aviance Capital Management LLC acquired a new stake in shares of Philip Morris International in the fourth quarter valued at $2,333,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in shares of Philip Morris International by 31.7% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 8,800 shares of the company’s stock valued at $587,000 after buying an additional 2,120 shares during the period. Institutional investors own 73.53% of the company’s stock.
In related news, CEO Andre Calantzopoulos sold 50,000 shares of the company’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $84.76, for a total transaction of $4,238,000.00. Following the completion of the transaction, the chief executive officer now directly owns 844,901 shares in the company, valued at approximately $71,613,808.76. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.21% of the stock is owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Tuesday, March 26th were paid a dividend of $1.14 per share. The ex-dividend date of this dividend was Monday, March 25th. This represents a $4.56 dividend on an annualized basis and a yield of 5.40%. Philip Morris International’s payout ratio is currently 89.41%.
Philip Morris International Company Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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