|Bid||83.64 x 1100|
|Ask||83.64 x 1000|
|Day's Range||83.28 - 85.14|
|52 Week Range||76.21 - 111.25|
|Beta (3Y Monthly)||0.04|
|PE Ratio (TTM)||19.45|
|Earnings Date||Feb 6, 2019 - Feb 11, 2019|
|Forward Dividend & Yield||4.56 (5.39%)|
|1y Target Est||93.71|
NEW YORK, Dec. 10, 2018 -- In new independent research reports released early this morning, Market Source Research released its latest key findings for all current investors,.
Concerns over rising interest rates and expected further rate increases have hit several stocks hard since the end of the third quarter. NASDAQ and Russell 2000 indices are already in correction territory. More importantly, Russell 2000 ETF (IWM) underperformed the larger S&P 500 ETF (SPY) by about 4 percentage points in the first half of […]
One of the world’s biggest tobacco companies is bullish on bud. Altria, parent company of New York-based Philip Morris (NYSE: PM) and maker of Marlboro cigarettes, invested $2.4 billion into a Toronto medical and recreational marijuana company.
Altria said has discontinued its MarkTen and Green Smoke e-cigarettes. Altria is considering a significant minority stake in Juul, a person familiar with the matter told CNBC. If the Food and Drug Administration clears Philip Morris International's heated tobacco product, iQOS, Altria will sell it in the U.S.
Altria Group (MO) is all set to leverage growth opportunities in the cannabis space with its decision to buy a stake in Cronos Group (CRON). Today, Altria announced that it had agreed to invest $1.8 billion (2.4 billion Canadian dollars) in Cronos Group to support its innovation and distribution footprint. The transaction will give Altria a 45% stake in Cronos Group at a price of 16.25 Canadian dollars per share.
Cronos, based in Toronto, owns cannabis producers Peace Naturals Project Inc. and Original BC Ltd. Altria is spending $1.8 billion, or 2.4 billion Canadian dollars for the 45% stake, paying C$16.25 each for the Cronos shares. Altria has a warrant to buy more Cronos shares at C$19 a share and could increase its total stake to 55%.
The Board of Directors of Philip Morris International Inc. (PM) today declared a regular quarterly dividend of $1.14 per common share, payable on January 11, 2019, to shareholders of record as of December 20, 2018. On June 8, 2018, the Board of Directors of PMI increased the company’s regular quarterly dividend by 6.5% to an annualized rate of $4.56 per share, the eleventh consecutive year in which PMI has increased its dividend, representing a total increase of 147.8%, or a compound annual growth rate of 9.5%, since PMI became a public company in 2008. Philip Morris International (PMI) is leading a transformation in the tobacco industry to create a smoke-free future and ultimately replace cigarettes with smoke-free products to the benefit of adults who would otherwise continue to smoke, society, the company and its shareholders.
THE HAGUE, Netherlands (AP) — A Dutch appeals court on Thursday refused to order public prosecutors to open a criminal investigation of tobacco companies, in a major setback for anti-smoking activists.
Following the highly anticipated sit-down between President Donald Trump and Chinese President Xi Jinping at the G-20 summit, investors received a respite: the White House says both leaders agreed to temporarily halt escalating sanctions. Trump has never enjoyed a reputation as a steady, calm hand in the face of stress or provocation. While the agreement facilitates a 90-day ceasefire regarding the ongoing trade war, investors should adopt a measured approach.
Legend has it that Lucky Strike cigarettes got their name because, back in the days before marijuana became illegal, the manufacturers added one marijuana cigarette in some packs. The first major move into cannabis by a tobacco company took place earlier this year, when U.S-based Alliance One International, a small player in tobacco production and packaging, rebranded itself into Pyxus International Inc (NYSE: PYX).
Today, Reuters reported that Altria Group (MO) is in early-stage talks to buy Cronos Group (CRON), a Canadian cannabis company, as it strives to diversify its business. The report appears to have led to a rise in Altria’s stock price. At 1:10 PM EST today, Altria was trading 1.7% higher, while Cronos Group was trading 15.6% higher.
Altria also jumped. Cronos spokeswoman Anna Shlimak said the Toronto-based company doesn’t comment on market rumors. The tobacco firm based in Richmond, Virginia, said in September it was exploring its options on cannabis but would follow U.S. federal law, where the drug remains illegal.
Can We Expect Philip Morris’s Upward Momentum to Continue? Of the 20 analysts that cover Philip Morris International (PM), 50.0% have given the stock “buy” recommendations as of November 29, 45.0% have given it “hold” recommendations, and 5.0% have given it “sell” recommendations. On average, analysts have set a 12-month price target of $93.06 on the stock, which represents a potential upside of 7.0% from its current price of $86.96.
Can We Expect Philip Morris’s Upward Momentum to Continue? For the next four quarters, analysts expect Philip Morris International (PM) to post adjusted EPS of $5.10, which represents a fall of 1.4% from $5.17 in the corresponding four quarters of the previous year. Analysts expect Philip Morris to post revenue of $29.90 billion in the next four quarters, which represents a fall of 1.7% from $30.42 billion in the corresponding four quarters of the previous year.
On November 29, Philip Morris International (PM) was trading at $86.96, which represents an increase of 2.8% since its announcement of its third-quarter earnings results on October 18. In the third quarter, Philip Morris posted adjusted EPS of $1.44 on revenue of $7.50 billion, outperforming analysts’ EPS expectation of $1.28 and their revenue estimate of $7.17 billion. The company’s shipment volumes of heated tobacco units grew in all regions except in its East Asia & Australia region, where net unfavorable estimated distributor inventory movements in Japan led to a fall in total shipment volumes.
Altria's potential investment in e-cigarette maker Juul could be worth as much as $4 billion-$7 billion and could be part of a plan to buy the vaping startup.
The $105 billion tobacco giant has reportedly entered talks to buy a significant minority stake in Juul Labs Inc., which in 2015 introduced e-cigarettes that have since, quite controversially, become a hot commodity among teens. News of the potential investment is sparking a mini-revival in Altria’s shares, which had fallen for a record streak of 11 days through Monday. Tobacco shares took a hit amid the revelation that the U.S. Food and Drug Administration is looking into a ban on menthol-flavored cigarettes, which account for a chunk of the industry’s profits, including a fifth of Altria’s haul.
Big tobacco player Altria Group is reportedly in talks to take a minority stake in the leading e-cigarette manufacturer Juul Labs. Here's why that would make a ton of sense.
The tobacco giant, which sells the Marlboro brand in the U.S., is in talks to buy a minority stake in e-cigarette rival Juul, a person familiar with the situation said Wednesday. Altria offers its own cigarette alternatives in the U.S., including MarkTen and Green Smoke, and has been waiting for U.S. approval to market IQOS, a “heat-not-burn” product developed by Philip Morris International Inc. -- but Juul’s growth has been far more robust.
Is marijuana a medicine or a vice? Ten U.S. states and the District of Columbia have legalized the recreational use of marijuana for adults over the age of 21, and New Jersey lawmakers on Monday proposed legalizing it. No U.S. public companies are directly selling marijuana, but Canadian marijuana producers like Tilray Inc (TLRY.O) and Canopy Growth Corp (WEED.TO) are on U.S. exchanges.
The Zacks Analyst Blog Highlights: JPMorgan, Procter & Gamble, UnitedHealth, McDonald's and Philip Morris