Wells Fargo & Company Reaffirms “Outperform” Rating for Philip Morris International Inc (PM)

Wells Fargo & Company reaffirmed their outperform rating on shares of Philip Morris International Inc (NYSE:PM) in a research report report published on Wednesday. They currently have a $135.00 target price on the stock, down from their prior target price of $140.00.

PM has been the topic of a number of other research reports. SBG Securities upgraded shares of Philip Morris International from a sell rating to a hold rating and lifted their price target for the company from $118.00 to $119.00 in a report on Friday, August 11th. Jefferies Group LLC reiterated a hold rating and issued a $120.00 price target on shares of Philip Morris International in a report on Thursday, September 28th. BidaskClub lowered shares of Philip Morris International from a hold rating to a sell rating in a report on Saturday, August 5th. Cowen and Company reiterated a buy rating on shares of Philip Morris International in a report on Sunday, September 24th. Finally, The Goldman Sachs Group, Inc. initiated coverage on shares of Philip Morris International in a report on Monday, October 2nd. They issued a buy rating on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $124.23.

Philip Morris International (NYSE PM) traded down $0.02 during mid-day trading on Wednesday, reaching $102.64. 4,016,887 shares of the company’s stock traded hands, compared to its average volume of 4,101,279. The stock has a market cap of $159,420.00, a PE ratio of 22.88, a P/E/G ratio of 2.07 and a beta of 0.91. The company has a debt-to-equity ratio of -2.91, a current ratio of 1.13 and a quick ratio of 0.68. Philip Morris International has a 12-month low of $86.78 and a 12-month high of $123.55.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11). The firm had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. equities analysts anticipate that Philip Morris International will post 4.76 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Wells Fargo & Company Reaffirms “Outperform” Rating for Philip Morris International Inc (PM)” was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another site, it was illegally stolen and reposted in violation of international copyright and trademark legislation. The original version of this story can be viewed at https://ledgergazette.com/2017/11/18/wells-fargo-company-reaffirms-outperform-rating-for-philip-morris-international-inc-pm.html.

In related news, Chairman Louis C. Camilleri sold 108,979 shares of Philip Morris International stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total transaction of $11,811,144.02. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Drago Azinovic sold 14,000 shares of Philip Morris International stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total transaction of $1,624,000.00. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Acropolis Investment Management LLC increased its stake in Philip Morris International by 0.5% during the 2nd quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock worth $123,000 after buying an additional 5 shares during the period. Novare Capital Management LLC increased its stake in Philip Morris International by 0.3% during the 2nd quarter. Novare Capital Management LLC now owns 1,842 shares of the company’s stock worth $216,000 after buying an additional 5 shares during the period. Baystate Wealth Management LLC increased its stake in Philip Morris International by 0.3% during the 2nd quarter. Baystate Wealth Management LLC now owns 2,053 shares of the company’s stock worth $244,000 after buying an additional 7 shares during the period. Hudock Capital Group LLC increased its stake in Philip Morris International by 0.3% during the 2nd quarter. Hudock Capital Group LLC now owns 3,144 shares of the company’s stock worth $369,000 after buying an additional 8 shares during the period. Finally, Jackson Grant Investment Advisers Inc. increased its stake in Philip Morris International by 0.3% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 3,368 shares of the company’s stock worth $396,000 after buying an additional 10 shares during the period. 72.22% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Company Profile

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

Analyst Recommendations for Philip Morris International (NYSE:PM)

Receive News & Ratings for Philip Morris International Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply