Barclays Forecasts Strong Price Appreciation for Philip Morris International (NYSE:PM) Stock

Philip Morris International (NYSE:PM - Get Free Report) had its price objective increased by equities researchers at Barclays from $220.00 to $225.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's target price would suggest a potential upside of 24.41% from the company's previous close.

A number of other analysts have also commented on the company. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. Stifel Nicolaus boosted 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. Jefferies Financial Group initiated coverage on Philip Morris International in a report on Wednesday. They issued a "buy" rating and a $220.00 price target on the stock. Bank of America upped their target price on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Needham & Company LLC initiated coverage on Philip Morris International in a report on Thursday, May 22nd. They set a "buy" rating on the stock. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $185.73.

Philip Morris International Stock Performance

NYSE:PM traded up $2.87 on Thursday, reaching $180.85. The company's stock had a trading volume of 5,208,523 shares, compared to its average volume of 5,637,079. Philip Morris International has a 1-year low of $102.75 and a 1-year high of $186.69. The firm has a market cap of $281.50 billion, a PE ratio of 37.29, a PEG ratio of 2.58 and a beta of 0.51. The business's 50-day moving average price is $177.87 and its two-hundred day moving average price is $156.13.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 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%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 earnings per share. As a group, sell-side analysts expect that Philip Morris International will post 7.14 EPS for the current year.

Institutional Trading of Philip Morris International

Several institutional investors and hedge funds have recently bought and sold shares of PM. Nuveen LLC bought a new stake in Philip Morris International in the first quarter valued at approximately $1,712,994,000. GQG Partners LLC raised its stake in Philip Morris International by 14.3% in the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after buying an additional 6,092,558 shares during the period. Wellington Management Group LLP grew its position in shares of Philip Morris International by 26.4% in the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company's stock valued at $3,466,730,000 after purchasing an additional 4,563,632 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Philip Morris International by 19,986.5% in the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock valued at $712,210,000 after purchasing an additional 4,464,590 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in shares of Philip Morris International by 372.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock valued at $656,303,000 after purchasing an additional 4,298,530 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

About Philip Morris International

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.