Philip Morris International (NYSE:PM) PT Raised to $117.00 at Bank of America

Philip Morris International (NYSE:PMGet Rating) had its price target increased by investment analysts at Bank of America from $107.00 to $117.00 in a research report issued to clients and investors on Sunday, The Fly reports. Bank of America‘s price objective suggests a potential upside of 13.94% from the stock’s current price.

Several other brokerages have also weighed in on PM. UBS Group upped their price objective on shares of Philip Morris International from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, February 17th. Morgan Stanley boosted their target price on shares of Philip Morris International from $104.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday. The Goldman Sachs Group downgraded shares of Philip Morris International from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $116.00 to $100.00 in a research report on Tuesday, March 22nd. Stifel Nicolaus decreased their target price on shares of Philip Morris International from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, March 25th. Finally, JPMorgan Chase & Co. downgraded shares of Philip Morris International from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $130.00 to $110.00 in a research report on Monday, March 7th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Buy” and an average price target of $110.70.

PM stock traded down $2.37 during midday trading on Friday, hitting $102.69. The stock had a trading volume of 4,139,888 shares, compared to its average volume of 5,467,985. The firm has a market cap of $159.18 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 3.14 and a beta of 0.77. Philip Morris International has a 1-year low of $85.64 and a 1-year high of $112.48. The business has a fifty day moving average price of $99.10 and a two-hundred day moving average price of $97.20.

Philip Morris International (NYSE:PMGet Rating) last released its earnings results on Thursday, April 21st. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.07. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.43 billion. Philip Morris International had a net margin of 10.97% and a negative return on equity of 110.49%. Philip Morris International’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.57 earnings per share. Analysts predict that Philip Morris International will post 5.55 EPS for the current fiscal year.

In other Philip Morris International news, insider Wilde Frederic De sold 29,941 shares of the stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $108.49, for a total value of $3,248,299.09. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.13% of the company’s stock.

Several large investors have recently modified their holdings of the company. Rockbridge Investment Management LCC raised its stake in Philip Morris International by 3.5% during the fourth quarter. Rockbridge Investment Management LCC now owns 2,835 shares of the company’s stock valued at $269,000 after purchasing an additional 95 shares in the last quarter. WP Advisors LLC raised its stake in Philip Morris International by 1.2% during the fourth quarter. WP Advisors LLC now owns 8,139 shares of the company’s stock valued at $773,000 after purchasing an additional 97 shares in the last quarter. Successful Portfolios LLC raised its stake in Philip Morris International by 2.9% during the fourth quarter. Successful Portfolios LLC now owns 3,500 shares of the company’s stock valued at $333,000 after purchasing an additional 100 shares in the last quarter. Schmidt P J Investment Management Inc. raised its stake in Philip Morris International by 1.4% during the fourth quarter. Schmidt P J Investment Management Inc. now owns 7,094 shares of the company’s stock valued at $730,000 after purchasing an additional 100 shares in the last quarter. Finally, Hanson & Doremus Investment Management raised its stake in Philip Morris International by 9.6% during the first quarter. Hanson & Doremus Investment Management now owns 1,160 shares of the company’s stock valued at $109,000 after purchasing an additional 102 shares in the last quarter. 75.20% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Company Profile (Get Rating)

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, 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 Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks, and Parliament HeatSticks brands, as well as under the Fiit and Miix licensed brands.

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