On September 30, 2023, Bank of America released a report reducing the price target for Philip Morris International (NYSE:PM) from $118.00 to $111.00, according to FlyOnTheWall. This adjustment suggests a potential upside of 19.27% from the stock’s current price.
As of Friday, PM stock opened at $93.07. Over the past year, Philip Morris International has experienced a low of $82.85 and a high of $105.62. The firm currently maintains a fifty-day moving average of $95.71 and a two-hundred-day moving average of $95.80. With a market capitalization of $144.48 billion, the company holds a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 1.90, and a beta ratio of 0.71.
Philip Morris International Inc operates as a tobacco company that aims to deliver a smoke-free future by expanding its portfolio beyond traditional tobacco and nicotine products in the long term. While cigarettes remain part of their product offering, they also focus on smoke-free alternatives such as heat-not-burn, vapor, and oral nicotine products under brands like IQOS and ZYN. Additionally, the company provides consumer accessories like lighters and matches.
In its most recent quarterly earnings release on July 20th, Philip Morris International beat analysts’ estimates with earnings per share of $1.60 for the quarter compared to the consensus estimate of $1.50 per share—a difference of $0.10 per share.
Furthermore, the company reported revenue totaling $8.97 billion for the quarter, surpassing analysts’ expectations which stood at approximately $8.76 billion.
However, it is important to note that Philip Morris International faced negative return-on-equity figures amounting to 127
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Analyzing the Ratings and Investor Activity of Philip Morris International
In recent months, the stock of Philip Morris International has been under close scrutiny by equities analysts and large investors alike. The analysis and evaluation of the company’s performance have resulted in several ratings and target price adjustments.
On August 17th, StockNews.com initiated coverage on Philip Morris International, offering a “hold” rating for the company. While this rating suggests a level of caution, it does not indicate any strong negative sentiment towards the stock.
In June, Citigroup took a more positive stance on Philip Morris International, upgrading its rating from “neutral” to “buy.” Alongside this upgrade came an increase in the target price, which jumped from $109.00 to $117.00. This indicates that Citigroup sees potential growth and value in the company’s shares.
Additionally, 22nd Century Group reaffirmed its positive outlook on the company with a “reiterates” rating in late June. This reaffirmation suggests continued confidence in Philip Morris International’s prospects.
Barclays took a slightly different approach by reducing their price objective on September 21st. They lowered it from $115.00 to $110.00 while maintaining an “overweight” rating for the stock. This adjustment could reflect either market volatility or changing expectations regarding future performance.
Jefferies Financial Group also made adjustments to their price target, lowering it from $113.00 to $111.00 in late August. However, they maintained their “buy” rating on the stock despite this reduction.
Overall, analysts seem divided when it comes to assessing Philip Morris International’s current state and future potential. One analyst has even issued a sell rating for the stock, contrasting with nine buy ratings and one hold rating.
It is important to note that these ratings are subjective opinions based on various methodologies employed by different firms. Investors should evaluate all available information before making any investment decisions.
In terms of shareholder activity surrounding Philip Morris International, some notable investors have recently bought or sold shares. Green Square Capital Advisors LLC purchased a new stake in the company during the second quarter, valued at $232,000.
Herold Advisors Inc. increased their stake in Philip Morris International by 8.6% during the same period, adding an additional 434 shares to their holdings. EP Wealth Advisors LLC also entered the picture by acquiring a new position worth approximately $98,000 in the first quarter.
Clear Harbor Asset Management LLC saw significant growth in their holdings by 59% during the first quarter, now owning 4,214 shares valued at $410,000. Similarly, Cypress Wealth Services LLC expanded its position by 6.3%, currently holding 4,514 shares worth $439,000.
These investments by institutional investors indicate varying levels of confidence and belief in Philip Morris International’s long-term prospects.
In conclusion, Philip Morris International has received mixed ratings from analysts and garnered interest from several large investors. While some remain cautious or skeptical about its performance, others see potential for growth and have increased their target prices. Ultimately, individual investors should carefully consider all available information before making any decisions regarding this stock in order to align with their investment goals and risk tolerance.
