Philip Morris International (NYSE:PM) Lifted to Hold at ValuEngine

Philip Morris International (NYSE:PM) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. set a $86.00 target price on shares of Philip Morris International and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Citigroup lowered shares of Philip Morris International from a “buy” rating to a “neutral” rating and set a $90.00 target price for the company. in a research report on Monday. Cowen reiterated a “hold” rating on shares of Philip Morris International in a research report on Thursday, September 12th. Stifel Nicolaus reiterated a “buy” rating on shares of Philip Morris International in a research report on Tuesday, October 15th. Finally, Credit Suisse Group set a $80.00 target price on shares of Philip Morris International and gave the company a “sell” rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. Philip Morris International presently has a consensus rating of “Hold” and an average target price of $92.27.

Shares of Philip Morris International stock opened at $82.60 on Tuesday. Philip Morris International has a 1 year low of $64.67 and a 1 year high of $92.74. The firm has a market cap of $129.03 billion, a PE ratio of 16.20, a PEG ratio of 2.02 and a beta of 1.01. The company has a 50 day simple moving average of $82.32 and a two-hundred day simple moving average of $80.19.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, October 17th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.08. Philip Morris International had a net margin of 9.59% and a negative return on equity of 82.33%. The business had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same period in the previous year, the business posted $1.44 earnings per share. Philip Morris International’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts anticipate that Philip Morris International will post 5.22 EPS for the current year.

Several hedge funds have recently bought and sold shares of PM. Nuveen Asset Management LLC raised its stake in shares of Philip Morris International by 23,232.2% during the second quarter. Nuveen Asset Management LLC now owns 11,295,814 shares of the company’s stock worth $887,059,000 after acquiring an additional 11,247,401 shares in the last quarter. Invesco Ltd. raised its stake in shares of Philip Morris International by 41.5% during the second quarter. Invesco Ltd. now owns 30,080,523 shares of the company’s stock worth $2,362,224,000 after acquiring an additional 8,824,567 shares in the last quarter. Morgan Stanley raised its stake in shares of Philip Morris International by 16.9% during the second quarter. Morgan Stanley now owns 34,485,714 shares of the company’s stock worth $2,708,164,000 after acquiring an additional 4,998,070 shares in the last quarter. BlackRock Inc. raised its stake in shares of Philip Morris International by 5.1% during the second quarter. BlackRock Inc. now owns 100,831,956 shares of the company’s stock worth $7,918,335,000 after acquiring an additional 4,879,296 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Philip Morris International by 56.3% during the second quarter. AQR Capital Management LLC now owns 4,619,770 shares of the company’s stock worth $360,204,000 after acquiring an additional 1,663,264 shares in the last quarter. 73.12% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Philip Morris International (NYSE:PM)

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