Philip Morris International Inc. PM was a big mover last session, as the company saw its shares rise more than 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $76.65 to $81.89 in the past one-month time frame.
The move came after the company reported better-than-expected second-quarter 2019 results.
The company has seen two negative estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Philip Morris currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Philip Morris International Inc. Price
Philip Morris International Inc. price | Philip Morris International Inc. Quote
Investors interested in the Tobacco industry may consider The Simply Good Foods Company SMPL, which has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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