Philip Morris International Inc. (PM) to Post Q1 2019 Earnings of $1.09 Per Share, Piper Jaffray Companies Forecasts
Philip Morris International Inc. (NYSE:PM) – Piper Jaffray Companies increased their Q1 2019 earnings per share estimates for shares of Philip Morris International in a note issued to investors on Sunday, December 2nd. Piper Jaffray Companies analyst M. Lavery now anticipates that the company will earn $1.09 per share for the quarter, up from their prior estimate of $1.08. Piper Jaffray Companies has a “Buy” rating and a $110.00 price target on the stock.
Several other equities analysts have also weighed in on PM. ValuEngine lowered shares of Philip Morris International from a “sell” rating to a “strong sell” rating in a report on Thursday, August 23rd. Jefferies Financial Group lowered shares of Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 price objective on the stock. in a report on Friday, August 24th. Citigroup increased their price objective on shares of Philip Morris International from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 21st. Zacks Investment Research lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Finally, Sanford C. Bernstein initiated coverage on shares of Philip Morris International in a report on Tuesday, October 16th. They issued an “outperform” rating and a $97.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. Philip Morris International currently has an average rating of “Hold” and a consensus price target of $95.73.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, October 18th. The company reported $1.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.16. Philip Morris International had a net margin of 8.20% and a negative return on equity of 78.80%. The business had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.16 billion. During the same period in the prior year, the business posted $1.27 earnings per share. Philip Morris International’s revenue was up .4% compared to the same quarter last year.
Large investors have recently modified their holdings of the business. Dana Investment Advisors Inc. increased its position in shares of Philip Morris International by 18.7% during the second quarter. Dana Investment Advisors Inc. now owns 201,520 shares of the company’s stock worth $16,271,000 after acquiring an additional 31,814 shares in the last quarter. Canal Capital Management LLC grew its position in Philip Morris International by 7.6% in the second quarter. Canal Capital Management LLC now owns 21,908 shares of the company’s stock valued at $1,769,000 after purchasing an additional 1,553 shares in the last quarter. Hudock Capital Group LLC grew its position in Philip Morris International by 33.9% in the second quarter. Hudock Capital Group LLC now owns 4,242 shares of the company’s stock valued at $342,000 after purchasing an additional 1,074 shares in the last quarter. MUFG Securities EMEA plc grew its position in Philip Morris International by 57.3% in the second quarter. MUFG Securities EMEA plc now owns 377,741 shares of the company’s stock valued at $30,499,000 after purchasing an additional 137,541 shares in the last quarter. Finally, CFO4Life Group LLC bought a new position in Philip Morris International in the second quarter valued at $589,000. 73.32% of the stock is owned by hedge funds and other institutional investors.
In other Philip Morris International news, Director Louis C. Camilleri sold 59,495 shares of the company’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $86.98, for a total value of $5,174,875.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Thursday, December 20th will be paid a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend is Wednesday, December 19th. Philip Morris International’s payout ratio is presently 92.49%.
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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