Philip Morris International (NYSE:PM) Lowered to Hold Rating by Wall Street Zen

Key Points

• Philip Morris International has been downgraded by Wall Street Zen from a "buy" rating to a "hold" rating, indicating a cautious outlook on the stock.
• Despite the downgrade, the majority of analysts still maintain a positive view, with 12 ratings classified as "buy" and a consensus average price target of $186.27.
• The company's recent earnings report beat consensus estimates with $1.91 earnings per share, although it fell short of revenue expectations, reporting $10.14 billion for the quarter.

Philip Morris International (NYSE:PM - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

PM has been the topic of several other reports. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Bank of America boosted their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Barclays cut their target price on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Jefferies Financial Group initiated coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target on the stock. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $186.27.

Philip Morris International Stock Up 1.2%

Shares of NYSE:PM traded up $2.06 during trading on Friday, hitting $170.23. 3,774,105 shares of the company traded hands, compared to its average volume of 7,028,849. The stock has a market capitalization of $264.98 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 2.48 and a beta of 0.48. The business's fifty day moving average is $176.29 and its 200-day moving average is $163.44. Philip Morris International has a one year low of $115.62 and a one year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The company had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the previous year, the business earned $1.59 EPS. The company's quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts forecast that Philip Morris International will post 7.14 EPS for the current year.

Institutional Investors Weigh In On Philip Morris International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new position in Philip Morris International in the 2nd quarter valued at about $25,000. Abound Wealth Management grew its holdings in Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company's stock worth $29,000 after purchasing an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Philip Morris International during the first quarter valued at about $30,000. Briaud Financial Planning Inc lifted its position in shares of Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company's stock worth $30,000 after buying an additional 120 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its position 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 acquiring an additional 162 shares during the period. 78.63% of the stock is owned by 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.