Piper Jaffray Companies set a $110.00 target price on Philip Morris International (NYSE:PM) in a report released on Monday morning, The Fly reports. The firm currently has a buy rating on the stock. Piper Jaffray Companies also issued estimates for Philip Morris International’s Q4 2018 earnings at $1.17 EPS, FY2018 earnings at $5.02 EPS, Q1 2019 earnings at $1.09 EPS, Q1 2020 earnings at $1.24 EPS, Q2 2020 earnings at $1.55 EPS, Q3 2020 earnings at $1.68 EPS and FY2020 earnings at $5.96 EPS.

Other research analysts have also recently issued reports about the stock. Citigroup lifted their price objective on shares of Philip Morris International from $95.00 to $100.00 and gave the company a buy rating in a report on Friday, October 19th. Zacks Investment Research upgraded shares of Philip Morris International from a sell rating to a hold rating in a report on Wednesday, October 24th. Societe Generale set a $95.00 price target on shares of Philip Morris International and gave the stock a hold rating in a report on Monday, October 22nd. Jefferies Financial Group cut shares of Philip Morris International from a buy rating to a hold rating and set a $80.00 price target on the stock. in a report on Friday, August 24th. Finally, ValuEngine upgraded shares of Philip Morris International from a sell rating to a hold rating in a report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $95.73.

Shares of NYSE PM opened at $85.29 on Monday. The stock has a market cap of $132.80 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 1.96 and a beta of 0.60. Philip Morris International has a 1 year low of $76.21 and a 1 year high of $111.25.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, October 18th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.16. The firm had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.16 billion. Philip Morris International had a net margin of 8.20% and a negative return on equity of 78.80%. The business’s revenue was up .4% on a year-over-year basis. During the same period last year, the company earned $1.27 earnings per share. Sell-side analysts anticipate that Philip Morris International will post 5.01 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Thursday, December 20th will be issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.35%. The ex-dividend date is Wednesday, December 19th. Philip Morris International’s dividend payout ratio (DPR) is presently 92.49%.

In related news, Director Louis C. Camilleri sold 59,495 shares of the business’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $86.98, for a total transaction of $5,174,875.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.22% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alerus Financial NA boosted its stake in Philip Morris International by 11.3% in the second quarter. Alerus Financial NA now owns 87,413 shares of the company’s stock valued at $7,058,000 after acquiring an additional 8,897 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Philip Morris International by 11.2% in the second quarter. Envestnet Asset Management Inc. now owns 201,092 shares of the company’s stock valued at $16,235,000 after acquiring an additional 20,196 shares during the last quarter. Zacks Investment Management boosted its stake in Philip Morris International by 7.4% in the second quarter. Zacks Investment Management now owns 527,234 shares of the company’s stock valued at $42,569,000 after acquiring an additional 36,303 shares during the last quarter. IMA Wealth Inc. purchased a new position in Philip Morris International in the second quarter valued at about $149,000. Finally, Jupiter Asset Management Ltd. boosted its stake in Philip Morris International by 102.3% in the second quarter. Jupiter Asset Management Ltd. now owns 72,816 shares of the company’s stock valued at $5,879,000 after acquiring an additional 36,816 shares during the last quarter. Hedge funds and other institutional investors own 73.32% of the company’s stock.

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.

Further Reading: Leveraged Buyout (LBO)

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Analyst Recommendations for Philip Morris International (NYSE:PM)

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