According to Zacks, “Philip Morris’ shares have declined in the past one month, thanks to persistent headwinds in the company’s cigarette category. Markedly, revenues in the combustible unit declined year over year in the first quarter of 2019, while shipment volumes were flat. We note that stringent policies and fading consumer interests are weighing upon cigarette sales. Further, management expects sales volumes in the unit to continue declining in 2019. Moreover, unfavorable currency movements are a viable threat. Nevertheless, advancement in RRPs arena is encouraging. In fact, strong growth in heated tobacco units boosted the company’s top line in the first quarter. The company is on track with expansion of RRPs. Further, efficient pricing boosted performance in the first quarter, which is expected to be a key growth catalyst in the forthcoming periods.”
Several other brokerages have also recently commented on PM. Citigroup boosted their price target on shares of Philip Morris International from $90.00 to $102.00 and gave the stock a buy rating in a research report on Monday, March 25th. ValuEngine raised Philip Morris International from a sell rating to a hold rating in a research note on Friday, March 15th. Bank of America reissued a sell rating and issued a $74.00 price target on shares of Philip Morris International in a research note on Tuesday, March 26th. UBS Group raised Philip Morris International from a neutral rating to a buy rating and lifted their price target for the stock from $86.00 to $101.00 in a research note on Wednesday, February 27th. Finally, Morgan Stanley lifted their price target on Philip Morris International from $88.00 to $94.00 and gave the stock an overweight rating in a research note on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $93.38.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, April 18th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.99 by $0.10. Philip Morris International had a net margin of 9.74% and a negative return on equity of 78.74%. The firm had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.76 billion. During the same period in the previous year, the business earned $1.00 earnings per share. Philip Morris International’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities research analysts anticipate that Philip Morris International will post 5.23 EPS for the current fiscal year.
In other Philip Morris International news, Director Louis C. Camilleri sold 70,000 shares of Philip Morris International stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $83.54, for a total transaction of $5,847,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Andre Calantzopoulos sold 50,000 shares of Philip Morris International stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $84.76, for a total value of $4,238,000.00. Following the transaction, the chief executive officer now directly owns 844,901 shares in the company, valued at approximately $71,613,808.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,200 shares of company stock worth $10,186,984. Company insiders own 0.21% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc grew its stake in shares of Philip Morris International by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 118,890,424 shares of the company’s stock valued at $9,694,325,000 after buying an additional 1,516,211 shares in the last quarter. BlackRock Inc. grew its stake in shares of Philip Morris International by 0.9% in the 1st quarter. BlackRock Inc. now owns 95,952,660 shares of the company’s stock valued at $8,481,257,000 after buying an additional 902,937 shares in the last quarter. Morgan Stanley grew its stake in shares of Philip Morris International by 29.1% in the 1st quarter. Morgan Stanley now owns 29,487,644 shares of the company’s stock valued at $2,606,413,000 after buying an additional 6,642,051 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Philip Morris International by 6.7% in the 1st quarter. Wellington Management Group LLP now owns 24,253,246 shares of the company’s stock valued at $2,143,744,000 after buying an additional 1,519,662 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Philip Morris International by 22.3% in the 1st quarter. Geode Capital Management LLC now owns 22,902,599 shares of the company’s stock valued at $2,021,601,000 after buying an additional 4,178,012 shares in the last quarter. 73.18% of the stock is currently owned by institutional investors.
Philip Morris International Company Profile
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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