Jefferies Financial Group Begins Coverage on Philip Morris International (NYSE:PM)

Jefferies Financial Group initiated coverage on shares of Philip Morris International (NYSE:PM - Free Report) in a research report report published on Wednesday, MarketBeat reports. The brokerage issued a buy rating and a $220.00 target price on the stock.

PM has been the subject of a number of other reports. Stifel Nicolaus upped their price target on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Barclays reaffirmed an "overweight" rating and issued a $220.00 price target (up from $205.00) on shares of Philip Morris International in a report on Friday, June 13th. Bank of America raised their price objective on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Needham & Company LLC started coverage on Philip Morris International in a report on Thursday, May 22nd. They set a "buy" rating on the stock. Finally, Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $185.73.

Philip Morris International Trading Up 1.6%

PM traded up $2.87 during trading hours on Wednesday, hitting $180.85. 5,208,523 shares of the company's stock were exchanged, compared to its average volume of 5,637,079. Philip Morris International has a 12-month low of $102.75 and a 12-month high of $186.69. The firm has a 50 day moving average of $177.87 and a 200 day moving average of $156.13. The firm has a market cap of $281.50 billion, a P/E ratio of 37.29, a price-to-earnings-growth ratio of 2.58 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. Philip Morris International's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.50 EPS. As a group, research analysts expect that Philip Morris International will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.99%. The ex-dividend date is Friday, June 27th. Philip Morris International's dividend payout ratio is presently 111.34%.

Institutional Trading of Philip Morris International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Philip Morris International in the 1st quarter valued at approximately $30,000. CBIZ Investment Advisory Services LLC grew its holdings in Philip Morris International by 405.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company's stock worth $32,000 after acquiring an additional 162 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in Philip Morris International during the first quarter worth $34,000. Pacifica Partners Inc. grew its holdings in Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after acquiring an additional 115 shares during the period. Finally, Redmont Wealth Advisors LLC acquired a new position in Philip Morris International during the first quarter worth $35,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

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.