Philip Morris International (NYSE:PM) Hits New 12-Month High After Better-Than-Expected Earnings

Philip Morris International Inc. (NYSE:PM) shares reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $146.78 and last traded at $140.26, with a volume of 1619991 shares traded. The stock had previously closed at $130.98.

The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.06. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s dividend payout ratio is currently 85.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PM shares. Morgan Stanley initiated coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target on the stock. Barclays cut their price target on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. UBS Group raised their price objective on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.35.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PM. White Lighthouse Investment Management Inc. raised its position in Philip Morris International by 71.4% during the 3rd quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock worth $1,457,000 after buying an additional 4,999 shares during the last quarter. Range Financial Group LLC raised its position in Philip Morris International by 504.9% during the fourth quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock worth $2,758,000 after acquiring an additional 19,127 shares during the period. Accredited Investors Inc. lifted its holdings in Philip Morris International by 3,553.3% during the third quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock valued at $25,125,000 after purchasing an additional 201,294 shares in the last quarter. Park Avenue Securities LLC grew its position in shares of Philip Morris International by 18.9% in the fourth quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock valued at $12,134,000 after purchasing an additional 16,035 shares during the period. Finally, CWA Asset Management Group LLC increased its stake in shares of Philip Morris International by 37.5% during the fourth quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock worth $2,912,000 after purchasing an additional 6,605 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Up 8.2 %

The stock has a market cap of $220.41 billion, a price-to-earnings ratio of 22.54, a P/E/G ratio of 2.30 and a beta of 0.55. The firm’s 50-day moving average is $125.17 and its two-hundred day moving average is $123.46.

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.