Philip Morris International (NYSE:PM) Upgraded to B at TheStreet

Philip Morris International (NYSE:PM) was upgraded by research analysts at TheStreet from a “c+” rating to a “b” rating in a research report issued to clients and investors on Tuesday, TheStreetRatingsTable reports.

Several other brokerages have also commented on PM. Barclays raised their price objective on shares of Philip Morris International from $103.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, April 22nd. Zacks Investment Research lowered shares of Philip Morris International from a “buy” rating to a “hold” rating and set a $99.00 price objective for the company. in a report on Tuesday, April 27th. Morgan Stanley reaffirmed a “buy” rating and set a $110.00 target price on shares of Philip Morris International in a research note on Friday, July 2nd. JPMorgan Chase & Co. raised shares of Philip Morris International from a “neutral” rating to an “overweight” rating and raised their target price for the company from $81.00 to $105.00 in a research note on Friday, April 9th. Finally, Piper Sandler raised their price target on shares of Philip Morris International from $111.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, June 11th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Philip Morris International has an average rating of “Buy” and a consensus price target of $100.92.

PM opened at $96.54 on Tuesday. The company has a fifty day moving average price of $98.29. Philip Morris International has a 52 week low of $68.93 and a 52 week high of $100.95. The company has a market capitalization of $150.46 billion, a PE ratio of 16.97, a PEG ratio of 1.82 and a beta of 0.83.

Philip Morris International (NYSE:PM) last posted its earnings results on Monday, July 19th. The company reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.02. The company had revenue of $7.84 billion during the quarter, compared to analyst estimates of $7.71 billion. Philip Morris International had a net margin of 11.13% and a negative return on equity of 91.56%. Philip Morris International’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. On average, research analysts predict that Philip Morris International will post 6.02 EPS for the current fiscal year.

Philip Morris International declared that its board has authorized a share repurchase plan on Friday, June 11th that permits the company to buyback $7.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 4.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

In other Philip Morris International news, insider Mario Masseroli sold 1,734 shares of the business’s stock in a transaction on Monday, May 10th. The shares were sold at an average price of $98.31, for a total value of $170,469.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Martin G. King sold 21,066 shares of the business’s stock in a transaction on Tuesday, April 27th. The stock was sold at an average price of $94.51, for a total transaction of $1,990,947.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,800 shares of company stock worth $3,139,017. Corporate insiders own 0.21% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Better Money Decisions LLC bought a new position in Philip Morris International during the 1st quarter valued at about $26,000. Lumature Wealth Partners LLC bought a new position in Philip Morris International during the 1st quarter valued at about $26,000. Grant Street Asset Management Inc. bought a new position in Philip Morris International during the 4th quarter valued at about $27,000. Providence Capital Advisors LLC bought a new position in Philip Morris International during the 1st quarter valued at about $27,000. Finally, Centiva Capital LP boosted its position in Philip Morris International by 152.2% in the 1st quarter. Centiva Capital LP now owns 13,600 shares of the company’s stock valued at $30,000 after buying an additional 8,208 shares during the period. Hedge funds and other institutional investors own 74.68% of the company’s stock.

About Philip Morris International

Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.

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Analyst Recommendations for Philip Morris International (NYSE:PM)

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