Morgan Stanley Lowers Philip Morris International (NYSE:PM) Price Target to $86.00

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Philip Morris International (NYSE:PM) had its target price cut by Morgan Stanley from $94.00 to $86.00 in a research report sent to investors on Friday, BenzingaRatingsTable reports. They currently have an overweight rating on the stock.

Several other research firms have also recently issued reports on PM. Zacks Investment Research raised Investors Real Estate Trust Reit from a sell rating to a hold rating in a research report on Thursday, May 23rd. Barclays reaffirmed a sell rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. 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 report on Monday, March 25th. Bank of America set a $120.00 price objective on Walmart and gave the stock a buy rating in a research report on Friday, May 17th. Finally, Societe Generale raised Philip Morris International from a hold rating to a buy rating in a research report on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $92.00.

PM opened at $81.89 on Friday. Philip Morris International has a 12 month low of $64.67 and a 12 month high of $92.74. The firm has a market cap of $127.40 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 2.07 and a beta of 0.96. The business’s fifty day moving average is $79.08.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, April 18th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.10. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.76 billion. Philip Morris International had a negative return on equity of 78.74% and a net margin of 9.74%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 EPS. As a group, research analysts expect that Philip Morris International will post 5.14 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 21st were given a $1.14 dividend. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.57%. Philip Morris International’s dividend payout ratio (DPR) is presently 89.41%.

In other Philip Morris International news, insider Mario Masseroli sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $84.32, for a total transaction of $101,184.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael R. Kunst acquired 2,500 shares of Philip Morris International stock in a transaction on Monday, April 29th. The shares were bought at an average cost of $84.67 per share, with a total value of $211,675.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 4,000 shares of company stock valued at $331,705. Insiders own 0.21% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. E&G Advisors LP raised its stake in shares of Philip Morris International by 3.9% during the 2nd quarter. E&G Advisors LP now owns 6,800 shares of the company’s stock worth $534,000 after buying an additional 253 shares in the last quarter. 6 Meridian raised its stake in shares of Philip Morris International by 2.2% during the 2nd quarter. 6 Meridian now owns 6,627 shares of the company’s stock worth $520,000 after buying an additional 144 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in shares of Philip Morris International by 1.6% during the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 38,241 shares of the company’s stock worth $3,003,000 after buying an additional 606 shares in the last quarter. Smith Salley & Associates raised its stake in shares of Philip Morris International by 11.8% during the 2nd quarter. Smith Salley & Associates now owns 15,941 shares of the company’s stock worth $1,252,000 after buying an additional 1,683 shares in the last quarter. Finally, HMS Capital Management LLC purchased a new position in shares of Philip Morris International during the 2nd quarter worth approximately $46,000. 73.49% of the stock is 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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