Barclays Reiterates Overweight Rating for Philip Morris International (NYSE:PM)

Philip Morris International (NYSE:PM)‘s stock had its “overweight” rating restated by analysts at Barclays in a report released on Friday, Marketbeat reports. They presently have a $220.00 price target on the stock, up from their previous price target of $205.00. Barclays‘s price target indicates a potential upside of 20.47% from the company’s previous close.

Other analysts have also issued research reports about the stock. Needham & Company LLC assumed coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They set a “buy” rating for the company. Bank of America upped their target price on Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Morgan Stanley reissued an “overweight” rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. Finally, Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $176.80.

Philip Morris International Stock Performance

NYSE PM traded down $1.71 on Friday, hitting $182.63. 2,001,517 shares of the stock were exchanged, compared to its average volume of 5,602,156. Philip Morris International has a 52-week low of $98.93 and a 52-week high of $186.65. The stock has a fifty day moving average price of $170.67 and a two-hundred day moving average price of $149.47. The firm has a market capitalization of $284.26 billion, a P/E ratio of 40.57, a P/E/G ratio of 2.65 and a beta of 0.52.

Philip Morris International (NYSE:PM) last announced its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. The business had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.50 EPS. Sell-side analysts expect that Philip Morris International will post 7.14 earnings per share for the current fiscal year.

Institutional Trading of Philip Morris International

Several hedge funds have recently bought and sold shares of the stock. Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Philip Morris International by 23.3% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 56,737 shares of the company’s stock valued at $6,828,000 after buying an additional 10,703 shares during the last quarter. Empire Life Investments Inc. grew its holdings in Philip Morris International by 11.6% during the 4th quarter. Empire Life Investments Inc. now owns 94,423 shares of the company’s stock worth $11,364,000 after acquiring an additional 9,789 shares during the period. Game Plan Financial Advisors LLC grew its stake in shares of Philip Morris International by 80.9% in the 4th quarter. Game Plan Financial Advisors LLC now owns 7,660 shares of the company’s stock valued at $922,000 after buying an additional 3,425 shares during the period. Brighton Jones LLC increased its position in shares of Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after acquiring an additional 2,023 shares in the last quarter. Finally, Symmetry Investments LP bought a new position in shares of Philip Morris International during the fourth quarter valued at about $1,966,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

About Philip Morris International

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.