Published On: Thu, Sep 22nd, 2016

Jefferies Group Comments on Philip Morris International Inc.’s FY2016 Earnings (PM)

Philip Morris International Inc. (NYSE:PM) – Research analysts at Jefferies Group issued their FY2016 earnings per share estimates for shares of Philip Morris International in a report released on Wednesday. Jefferies Group analyst O. Bennett anticipates that the brokerage will post earnings per share of $4.48 for the year. Jefferies Group currently has a “Hold” rating and a $96.00 target price on the stock. Jefferies Group also issued estimates for Philip Morris International’s FY2017 earnings at $4.85 EPS, FY2018 earnings at $5.20 EPS and FY2019 earnings at $5.60 EPS.
Several other analysts also recently weighed in on PM. JPMorgan Chase & Co. upgraded shares of Philip Morris International from a “neutral” rating to an “overweight” rating and set a $112.00 price objective on the stock in a research report on Friday, June 17th. Vetr upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $105.50 price objective on the stock in a research report on Monday, June 20th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $105.00 price objective (up from $99.00) on shares of Philip Morris International in a research report on Friday, July 15th. Wells Fargo & Co. reiterated an “outperform” rating on shares of Philip Morris International in a research report on Tuesday, July 19th. Finally, Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Wednesday, July 20th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Philip Morris International currently has an average rating of “Buy” and an average target price of $104.06.
Shares of Philip Morris International (NYSE:PM) traded up 0.99% during trading on Thursday, hitting $101.65. 2,154,320 shares of the company traded hands. The stock has a market cap of $157.69 billion, a price-to-earnings ratio of 24.32 and a beta of 0.97. Philip Morris International has a one year low of $78.03 and a one year high of $104.20. The firm has a 50 day moving average price of $99.73 and a 200-day moving average price of $99.61.

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Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by $0.05. The firm had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.77 billion. Philip Morris International had a net margin of 8.84% and a negative return on equity of 57.28%. During the same period in the previous year, the company posted $1.21 EPS.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Wednesday, September 28th will be issued a dividend of $1.04 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.02. This represents a $4.16 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Monday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 97.61%.
Several hedge funds have recently bought and sold shares of PM. Vanguard Group Inc. boosted its stake in Philip Morris International by 2.6% in the second quarter. Vanguard Group Inc. now owns 99,323,022 shares of the company’s stock valued at $10,103,138,000 after buying an additional 2,501,571 shares in the last quarter. State Street Corp boosted its stake in Philip Morris International by 3.3% in the first quarter. State Street Corp now owns 57,800,062 shares of the company’s stock valued at $5,670,770,000 after buying an additional 1,821,500 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Philip Morris International by 0.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 39,191,696 shares of the company’s stock valued at $3,986,579,000 after buying an additional 317,150 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Philip Morris International by 1.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 27,895,822 shares of the company’s stock valued at $2,837,563,000 after buying an additional 514,983 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in Philip Morris International by 6.6% in the second quarter. BlackRock Fund Advisors now owns 25,591,100 shares of the company’s stock valued at $2,603,127,000 after buying an additional 1,590,036 shares in the last quarter. Institutional investors and hedge funds own 71.22% of the company’s stock.
About Philip Morris International
Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.

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