Philip Morris International (NYSE:PM) Now Covered by Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Philip Morris International (NYSE:PM - Free Report) in a research note issued to investors on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $220.00 price objective on the stock.

Other research analysts have also issued research reports about the stock. Citigroup raised their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Barclays restated an "overweight" rating and issued a $220.00 price target (up previously from $205.00) on shares of Philip Morris International in a report on Friday, June 13th. Needham & Company LLC started coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They issued a "buy" rating on the stock. Morgan Stanley restated an "overweight" rating and issued a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $180.73.

Philip Morris International Stock Up 0.0%

Shares of PM traded up $0.01 during mid-day trading on Wednesday, hitting $177.73. The company had a trading volume of 3,820,558 shares, compared to its average volume of 5,623,932. The business's 50-day simple moving average is $177.53 and its 200-day simple moving average is $155.58. Philip Morris International has a 1-year low of $101.62 and a 1-year high of $186.69. The stock has a market cap of $276.64 billion, a PE ratio of 36.65, a P/E/G ratio of 2.63 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The business had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. During the same period last year, the company earned $1.50 earnings per share. The company's quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that Philip Morris International will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be paid a $1.35 dividend. The ex-dividend date is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.04%. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

Institutional Trading of Philip Morris International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kelly Lawrence W & Associates Inc. CA acquired a new position in Philip Morris International in the first quarter worth $30,000. CBIZ Investment Advisory Services LLC lifted its holdings in Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company's stock worth $32,000 after purchasing an additional 162 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new stake in Philip Morris International in the first quarter worth about $34,000. Pacifica Partners Inc. lifted its holdings in Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after purchasing an additional 115 shares during the period. Finally, Redmont Wealth Advisors LLC bought a new stake in Philip Morris International in the first quarter worth about $35,000. Institutional investors 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.