Philip Morris International Inc. (NYSE:PM) Short Interest Up 6.5% in May

Philip Morris International Inc. (NYSE:PM) saw a significant increase in short interest in May. As of May 29th, there was short interest totalling 9,620,000 shares, an increase of 6.5% from the May 14th total of 9,030,000 shares. Based on an average daily trading volume, of 6,700,000 shares, the short-interest ratio is currently 1.4 days. Approximately 0.6% of the company’s stock are sold short.

PM traded down $0.83 during trading on Friday, reaching $70.42. The company’s stock had a trading volume of 6,587,993 shares, compared to its average volume of 4,808,435. Philip Morris International has a 52-week low of $56.01 and a 52-week high of $90.17. The company’s fifty day moving average price is $72.49 and its 200-day moving average price is $79.67. The company has a market capitalization of $110.95 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 2.19 and a beta of 0.77.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.08. The business had revenue of $7.15 billion for the quarter, compared to analyst estimates of $6.87 billion. Philip Morris International had a negative return on equity of 84.38% and a net margin of 9.75%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 EPS. As a group, research analysts anticipate that Philip Morris International will post 4.91 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 22nd will be given a dividend of $1.17 per share. The ex-dividend date of this dividend is Friday, June 19th. This represents a $4.68 annualized dividend and a dividend yield of 6.65%. Philip Morris International’s dividend payout ratio is currently 90.17%.

Several institutional investors have recently modified their holdings of PM. Solstein Capital LLC acquired a new position in shares of Philip Morris International during the 4th quarter worth approximately $28,000. Perennial Advisors LLC acquired a new position in shares of Philip Morris International during the 1st quarter worth approximately $29,000. Key Financial Inc acquired a new position in shares of Philip Morris International during the 1st quarter worth approximately $41,000. CBIZ Investment Advisory Services LLC acquired a new position in Philip Morris International in the 4th quarter valued at $48,000. Finally, New South Capital Management Inc. acquired a new position in Philip Morris International in the 4th quarter valued at $51,000. Hedge funds and other institutional investors own 74.69% of the company’s stock.

A number of analysts have recently commented on the company. Goldman Sachs Group assumed coverage on Philip Morris International in a research report on Wednesday, April 1st. They set a “buy” rating and a $80.00 target price on the stock. Panmure Gordon upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Friday, April 3rd. ValuEngine cut Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, June 8th. Citigroup cut their target price on Philip Morris International from $90.00 to $78.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Finally, UBS Group lifted their target price on Philip Morris International from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. Philip Morris International currently has an average rating of “Buy” and a consensus price target of $91.14.

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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