Barclays Has Lowered Expectations for Philip Morris International (NYSE:PM) Stock Price

Philip Morris International (NYSE:PM) had its price objective lowered by research analysts at Barclays from $155.00 to $145.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 19.00% from the company’s current price.

A number of other research firms also recently weighed in on PM. Citigroup increased their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group increased their price target on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 target price (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.39.

Philip Morris International Trading Up 0.4 %

Philip Morris International stock opened at $121.85 on Wednesday. The stock has a 50-day moving average price of $126.60 and a two-hundred day moving average price of $120.47. Philip Morris International has a 12 month low of $87.82 and a 12 month high of $134.15. The company has a market capitalization of $189.46 billion, a PE ratio of 19.34, a P/E/G ratio of 2.22 and a beta of 0.54.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The business had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. During the same quarter last year, the business earned $1.67 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, analysts predict that Philip Morris International will post 6.51 earnings per share for the current fiscal year.

Insider Activity at Philip Morris International

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Institutional Trading of Philip Morris International

Several hedge funds have recently bought and sold shares of the business. FMR LLC lifted its holdings in shares of Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after purchasing an additional 6,721,094 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Philip Morris International by 57.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after buying an additional 3,363,454 shares during the last quarter. National Bank of Canada FI lifted its stake in Philip Morris International by 161.6% during the 3rd quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock valued at $235,936,000 after acquiring an additional 1,200,636 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Philip Morris International by 14,611.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock valued at $142,467,000 after acquiring an additional 1,165,554 shares in the last quarter. Finally, Wulff Hansen & CO. boosted its holdings in Philip Morris International by 10,033.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,039,646 shares of the company’s stock worth $105,347,000 after acquiring an additional 1,029,386 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.