Philip Morris International Inc. (NYSE:PM) – Piper Jaffray Companies cut their Q3 2018 earnings per share (EPS) estimates for shares of Philip Morris International in a report issued on Monday, August 20th. Piper Jaffray Companies analyst M. Lavery now expects that the company will post earnings per share of $1.26 for the quarter, down from their previous estimate of $1.28. Piper Jaffray Companies also issued estimates for Philip Morris International’s Q4 2018 earnings at $1.36 EPS, FY2018 earnings at $5.03 EPS, Q1 2019 earnings at $1.10 EPS, Q3 2019 earnings at $1.36 EPS, Q4 2019 earnings at $1.48 EPS and FY2019 earnings at $5.32 EPS.
Several other brokerages have also recently weighed in on PM. ValuEngine raised Philip Morris International from a “strong sell” rating to a “sell” rating in a report on Monday, July 30th. Societe Generale cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. Deutsche Bank set a $100.00 price objective on Philip Morris International and gave the stock a “buy” rating in a report on Tuesday, April 24th. Argus raised Philip Morris International from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Wednesday, July 25th. Finally, JPMorgan Chase & Co. cut Philip Morris International from an “overweight” rating to a “neutral” rating in a report on Friday, July 20th. Three analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $104.55.
Philip Morris International stock opened at $83.53 on Wednesday. The company has a debt-to-equity ratio of -2.76, a current ratio of 1.15 and a quick ratio of 0.64. Philip Morris International has a 12-month low of $76.21 and a 12-month high of $119.43. The stock has a market capitalization of $132.21 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 1.82 and a beta of 0.90.
Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, July 19th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.18. Philip Morris International had a negative return on equity of 76.67% and a net margin of 7.84%. The business had revenue of $7.73 billion during the quarter, compared to analysts’ expectations of $7.53 billion. During the same period in the previous year, the business posted $1.14 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year.
A number of large investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its stake in shares of Philip Morris International by 4.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 34,065,506 shares of the company’s stock valued at $2,750,449,000 after acquiring an additional 1,421,021 shares during the last quarter. Morgan Stanley increased its stake in shares of Philip Morris International by 23.9% in the 2nd quarter. Morgan Stanley now owns 22,738,044 shares of the company’s stock valued at $1,835,871,000 after acquiring an additional 4,386,487 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Philip Morris International by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,570,730 shares of the company’s stock valued at $1,418,660,000 after acquiring an additional 258,809 shares during the last quarter. Flossbach Von Storch AG increased its stake in shares of Philip Morris International by 48.1% in the 2nd quarter. Flossbach Von Storch AG now owns 14,212,696 shares of the company’s stock valued at $1,147,533,000 after acquiring an additional 4,618,289 shares during the last quarter. Finally, Fundsmith Equity Fund L.P. bought a new stake in shares of Philip Morris International in the 2nd quarter valued at about $845,763,000. 73.05% of the stock is owned by hedge funds and other institutional investors.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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