Published On: Mon, Sep 12th, 2016

Philip Morris International’s (PM) Buy Rating Reaffirmed at Goldman Sachs Group Inc.

Philip Morris International Inc. (NYSE:PM)‘s stock had its “buy” rating reiterated by equities researchers at Goldman Sachs Group Inc. in a research note issued to investors on Monday. They currently have a $114.00 price target on the stock. Goldman Sachs Group Inc.’s target price suggests a potential upside of 16.88% from the stock’s current price.
Several other brokerages have also recently weighed in on PM. Zacks Investment Research upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a report on Monday, May 16th. Vetr upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $105.50 target price for the company in a report on Monday, June 20th. JPMorgan Chase & Co. upgraded Philip Morris International from a “neutral” rating to an “overweight” rating and set a $112.00 target price for the company in a report on Friday, June 17th. SBG Securities upgraded Philip Morris International from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Finally, Wells Fargo & Co. reiterated an “outperform” rating on shares of Philip Morris International in a report on Tuesday, July 19th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $104.32.
Philip Morris International (NYSE:PM) opened at 97.54 on Monday. Philip Morris International has a 12 month low of $78.03 and a 12 month high of $104.20. The stock has a market capitalization of $151.32 billion, a PE ratio of 23.33 and a beta of 0.97. The firm has a 50-day moving average price of $99.72 and a 200 day moving average price of $99.14.

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Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, July 19th. The company reported $1.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by $0.05. Philip Morris International had a negative return on equity of 57.28% and a net margin of 8.84%. The firm earned $6.65 billion during the quarter, compared to analysts’ expectations of $6.77 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. Equities analysts anticipate that Philip Morris International will post $4.49 earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. Sanctuary Wealth Advisors LLC increased its stake in shares of Philip Morris International by 969.3% in the fourth quarter. Sanctuary Wealth Advisors LLC now owns 28,102 shares of the company’s stock worth $2,289,000 after buying an additional 25,474 shares during the last quarter. Lynch & Associates IN increased its stake in shares of Philip Morris International by 0.8% in the fourth quarter. Lynch & Associates IN now owns 16,323 shares of the company’s stock worth $1,435,000 after buying an additional 128 shares during the last quarter. Royal London Asset Management Ltd. increased its stake in shares of Philip Morris International by 1.2% in the fourth quarter. Royal London Asset Management Ltd. now owns 662,439 shares of the company’s stock worth $58,934,000 after buying an additional 7,908 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Philip Morris International during the fourth quarter worth approximately $5,101,000. Finally, Canal Capital Management LLC increased its stake in shares of Philip Morris International by 13.8% in the fourth quarter. Canal Capital Management LLC now owns 20,198 shares of the company’s stock worth $1,775,000 after buying an additional 2,444 shares during the last quarter. Hedge funds and other institutional investors own 71.61% of the company’s stock.
Philip Morris International Company Profile
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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