Philip Morris International (NYSE:PM) Downgraded by Citigroup to “Neutral”

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Philip Morris International (NYSE:PM) was downgraded by equities research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Monday, The Fly reports.

PM has been the subject of several other research reports. Credit Suisse Group set a $80.00 price objective on shares of Philip Morris International and gave the company a “sell” rating in a research report on Wednesday, August 28th. Wells Fargo & Co reduced their price objective on shares of Philip Morris International from $102.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. ValuEngine lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, November 25th. Bank of America upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Tuesday, October 1st. Finally, Stifel Nicolaus restated a “buy” rating on shares of Philip Morris International in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Philip Morris International currently has an average rating of “Hold” and a consensus target price of $92.27.

Shares of PM opened at $82.93 on Monday. The firm has a 50-day moving average price of $82.03 and a 200 day moving average price of $80.21. The firm has a market capitalization of $129.03 billion, a PE ratio of 16.26, a P/E/G ratio of 2.02 and a beta of 1.01. Philip Morris International has a 52-week low of $64.67 and a 52-week high of $92.74.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, October 17th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.08. The firm had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.65 billion. Philip Morris International had a net margin of 9.59% and a negative return on equity of 82.33%. Philip Morris International’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.44 EPS. As a group, research analysts anticipate that Philip Morris International will post 5.22 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Titan Capital Management LLC CA acquired a new position in Philip Morris International in the second quarter worth approximately $30,000. Strategic Blueprint LLC acquired a new position in Philip Morris International in the third quarter worth approximately $30,000. River & Mercantile Asset Management LLP acquired a new position in Philip Morris International in the second quarter worth approximately $32,000. Northwest Investment Counselors LLC acquired a new position in Philip Morris International in the third quarter worth approximately $37,000. Finally, Prestige Wealth Management Group LLC acquired a new position in Philip Morris International in the second quarter worth approximately $38,000. 73.12% of the stock is owned by institutional investors.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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The Fly

Analyst Recommendations for Philip Morris International (NYSE:PM)

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