Philip Morris International (PM) is Initiated by Jefferies to Hold, Price Target at $96

Philip Morris International (PM) was Initiated by Jefferies to “Hold” and the brokerage firm has set the Price Target at $96. Jefferies advised their investors in a research report released on Sep 21, 2016.

Many Wall Street Analysts have commented on Philip Morris International. Philip Morris International was Initiated by Citigroup to “Neutral” on Sep 13, 2016. Philip Morris International was Upgraded by Goldman to ” Buy” on Sep 12, 2016.

On the company’s financial health, Philip Morris International reported $1.15 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jul 19, 2016. Analyst had a consensus of $1.19. The company had revenue of $6649.00 million for the quarter, compared to analysts expectations of $6772.05 million. The company’s revenue was down -3.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.21 EPS.

Philip Morris International opened for trading at $99.2 and hit $99.96 on the upside on Tuesday, eventually ending the session at $99.21, with a gain of 0.39% or 0.39 points. The heightened volatility saw the trading volume jump to 27,59,439 shares. Company has a market cap of $153,907 M.

Investors should note that on Sep 13, 2016, Philip Morris International announced a cash dividend of $1.0400. The company’s management has announced Sep 26, 2016 as the ex-dividend date and fixed the record date on Sep 28, 2016. The payable date has been fixed on Oct 13, 2016.

In a different news, on Apr 28, 2016, Marc S Firestone (Sr. VP & General Counsel) sold 18,000 shares at $97.06 per share price. According to the SEC, on Feb 19, 2016, Andre Calantzopoulos (Chief Executive Officer) sold 30,000 shares at $91.11 per share price.

Philip Morris International Inc. is a holding company engaged in the manufacture and sale of cigarettes other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in more than 180 markets which include a range of international and local premium mid-price and low-price brands. Its premium price brands include Marlboro Merit Parliament and Virginia Slims; mid-price brands are L&M and Chesterfield and international brands include Bond Street Lark Muratti Next Philip Morris and Red & White. Its local cigarette brands consist of Sampoerna Dji Sam Soe and U Mild in Indonesia; Fortune Champion and Hope in the Philippines; Diana in Italy; Optima and Apollo-Soyuz in Russia; Morven Gold in Pakistan; Boston in Colombia; Belmont Canadian Classics and Number 7 in Canada; Best and Classic in Serbia; f6 in Germany; Delicados in Mexico; Assos in Greece and Petra in the Czech Republic and Slovakia.

Philip Morris International

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