CLSA Analysts Reduce Earnings Estimates for Philip Morris International Inc (PM)

CLSA Analysts Reduce Earnings Estimates for Philip Morris International Inc (PM)

Philip Morris International Inc (NYSE:PM) – Stock analysts at CLSA dropped their FY2017 earnings per share (EPS) estimates for Philip Morris International in a note issued to investors on Wednesday. CLSA analyst M. Lavery now forecasts that the brokerage will post earnings of $4.79 per share for the year, down from their prior forecast of $4.81. CLSA also issued estimates for Philip Morris International’s FY2018 earnings at $5.37 EPS.

A number of other analysts have also weighed in on the company. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $116.00 price objective (up previously from $114.00) on shares of Philip Morris International in a research report on Monday, October 3rd. Vetr lowered Philip Morris International from a “strong-buy” rating to a “buy” rating and set a $100.12 price objective on the stock. in a research report on Monday, November 21st. Zacks Investment Research raised Philip Morris International from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research report on Wednesday, October 5th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Philip Morris International in a research report on Wednesday, December 21st. Finally, Jefferies Group LLC set a $99.00 price objective on Philip Morris International and gave the stock a “hold” rating in a research report on Wednesday, October 5th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $103.42.

Shares of Philip Morris International (NYSE:PM) opened at 96.36 on Thursday. The firm has a market cap of $149.49 billion, a PE ratio of 23.05 and a beta of 0.88. Philip Morris International has a 12 month low of $86.78 and a 12 month high of $104.20. The firm’s 50-day moving average price is $91.88 and its 200-day moving average price is $95.78.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Glassman Wealth Services boosted its position in shares of Philip Morris International by 0.4% in the second quarter. Glassman Wealth Services now owns 1,000 shares of the company’s stock worth $102,000 after buying an additional 4 shares during the period. Acropolis Investment Management LLC boosted its position in shares of Philip Morris International by 0.5% in the third quarter. Acropolis Investment Management LLC now owns 1,059 shares of the company’s stock worth $103,000 after buying an additional 5 shares during the period. Intersect Capital LLC boosted its position in shares of Philip Morris International by 0.3% in the second quarter. Intersect Capital LLC now owns 3,260 shares of the company’s stock worth $332,000 after buying an additional 11 shares during the period. Cornerstone Advisors Inc. boosted its position in shares of Philip Morris International by 1.1% in the third quarter. Cornerstone Advisors Inc. now owns 1,155 shares of the company’s stock worth $112,000 after buying an additional 13 shares during the period. Finally, YHB Investment Advisors Inc. boosted its position in shares of Philip Morris International by 0.4% in the third quarter. YHB Investment Advisors Inc. now owns 4,062 shares of the company’s stock worth $395,000 after buying an additional 15 shares during the period. 71.19% of the stock is owned by institutional investors.

In other news, Director Jun Makihara acquired 2,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, November 17th. The stock was purchased at an average price of $89.22 per share, for a total transaction of $178,440.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 10th. Investors of record on Thursday, December 22nd were given a $1.04 dividend. The ex-dividend date of this dividend was Tuesday, December 20th. This represents a $4.16 dividend on an annualized basis and a yield of 4.32%. Philip Morris International’s payout ratio is currently 99.52%.

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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