Philip Morris International Inc. (NYSE:PM) – Equities researchers at Piper Sandler cut their Q4 2021 EPS estimates for Philip Morris International in a research note issued to investors on Sunday, September 12th. Piper Sandler analyst M. Lavery now anticipates that the company will post earnings of $1.42 per share for the quarter, down from their prior forecast of $1.43. Piper Sandler has a “Overweight” rating and a $114.00 price objective on the stock. Piper Sandler also issued estimates for Philip Morris International’s Q1 2022 earnings at $1.71 EPS, Q3 2022 earnings at $1.72 EPS and Q2 2023 earnings at $1.87 EPS.
Several other brokerages also recently weighed in on PM. Morgan Stanley restated a “buy” rating and issued a $110.00 target price on shares of Philip Morris International in a research note on Friday, July 2nd. Barclays set a $98.59 target price on shares of Philip Morris International and gave the company an “overweight” rating in a research note on Friday, July 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Philip Morris International from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, August 19th. Finally, TheStreet upgraded shares of Philip Morris International from a “c+” rating to a “b” rating in a research note on Tuesday, July 20th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Philip Morris International has a consensus rating of “Buy” and an average target price of $102.20.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Monday, July 19th. The company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.02. Philip Morris International had a net margin of 11.13% and a negative return on equity of 91.56%. The company had revenue of $7.84 billion during the quarter, compared to analyst estimates of $7.71 billion. During the same quarter in the prior year, the business earned $1.29 earnings per share. The business’s quarterly revenue was up 17.9% compared to the same quarter last year.
Several institutional investors have recently bought and sold shares of the company. Schaper Benz & Wise Investment Counsel Inc. WI lifted its position in shares of Philip Morris International by 3.0% in the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 3,470 shares of the company’s stock worth $344,000 after buying an additional 100 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings in shares of Philip Morris International by 29.4% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 444 shares of the company’s stock worth $44,000 after acquiring an additional 101 shares during the period. RiverFront Investment Group LLC increased its holdings in shares of Philip Morris International by 3.7% in the 2nd quarter. RiverFront Investment Group LLC now owns 2,806 shares of the company’s stock worth $278,000 after acquiring an additional 101 shares during the period. BerganKDV Wealth Management LLC increased its holdings in shares of Philip Morris International by 9.8% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 1,132 shares of the company’s stock worth $112,000 after acquiring an additional 101 shares during the period. Finally, Garde Capital Inc. increased its holdings in shares of Philip Morris International by 3.2% in the 1st quarter. Garde Capital Inc. now owns 3,285 shares of the company’s stock worth $292,000 after acquiring an additional 103 shares during the period. Institutional investors own 75.05% of the company’s stock.
In other Philip Morris International news, CEO Martin G. King sold 21,725 shares of the stock in a transaction on Tuesday, July 27th. The shares were sold at an average price of $100.18, for a total transaction of $2,176,410.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.
Philip Morris International announced that its board has authorized a share buyback program on Friday, June 11th that permits the company to repurchase $7.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
Philip Morris International Company Profile
Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.
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