Jefferies Financial Group Begins Coverage on Philip Morris International (NYSE:PM)

Investment analysts at Jefferies Financial Group initiated coverage on shares of Philip Morris International (NYSE:PM) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $220.00 price target on the stock. Jefferies Financial Group’s target price points to a potential upside of 21.65% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Needham & Company LLC started coverage on Philip Morris International in a report on Thursday, May 22nd. They set a “buy” rating on the stock. Stifel Nicolaus raised their price target on Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Bank of America raised their price target on Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Finally, Citigroup raised their price target on Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $185.73.

Philip Morris International Price Performance

NYSE:PM opened at $180.85 on Wednesday. The firm has a market capitalization of $281.50 billion, a PE ratio of 37.29, a price-to-earnings-growth ratio of 2.58 and a beta of 0.51. The business’s fifty day moving average price is $177.87 and its 200 day moving average price is $156.13. Philip Morris International has a 12 month low of $102.75 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM) last posted its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.61 by $0.08. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. Philip Morris International’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.50 earnings per share. As a group, equities analysts anticipate that Philip Morris International will post 7.14 EPS for the current year.

Institutional Investors Weigh In On Philip Morris International

Hedge funds and other institutional investors have recently modified their holdings of the stock. 49 Wealth Management LLC lifted its position in shares of Philip Morris International by 79.0% during the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company’s stock valued at $847,000 after acquiring an additional 2,354 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Philip Morris International by 24.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company’s stock worth $69,695,000 after purchasing an additional 87,631 shares during the last quarter. Brighton Jones LLC raised its position in shares of Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after purchasing an additional 2,023 shares during the last quarter. Symmetry Investments LP acquired a new position in shares of Philip Morris International during the 4th quarter worth approximately $1,966,000. Finally, Worth Asset Management LLC acquired a new position in shares of Philip Morris International during the 1st quarter worth approximately $2,223,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Company Profile

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.