75.03 -0.14 (-0.19%)
Pre-Market: 4:20AM EST
|Bid||74.26 x 800|
|Ask||74.89 x 3000|
|Day's Range||75.14 - 80.33|
|52 Week Range||75.14 - 111.25|
|Beta (3Y Monthly)||0.04|
|PE Ratio (TTM)||17.49|
|Earnings Date||Feb 6, 2019 - Feb 11, 2019|
|Forward Dividend & Yield||4.56 (5.53%)|
|1y Target Est||93.25|
Today, Reuters reported that Credit Suisse downgraded Philip Morris International (PM) from “neutral” to “underperform” and lowered its price target to $74 from $92. The new price target represents a fall of 9.1% from the company’s December 17 closing price of $81.40. Among the 19 analysts who follow Philip Morris, 52.6% recommend a “buy,” 36.8% recommend a “hold,” and 10.5% recommend a “sell.” On average, analysts have given the stock a price target of $93.25, which represents an upside potential of 14.6% from its closing price on December 17.
Philip Morris shares were down 5.3% to $77.06 on the New York Stock Exchange after Credit Suisse downgraded the company's stock and slashed its price target to $74 from $92, citing the company's reliance on heated tobacco products. Philip Morris and other tobacco makers have seen increased competition from e-cigarettes and other e-vapor products that still contain nicotine but generally have fewer byproducts such as tar. Through subsidiaries, Philip Morris makes and sells cigarettes and other nicotine-containing products.
Stringent FDA regulations have led to fading cigarette sales that are plaguing the performance of Altria. Nevertheless, growth in RRPs looks encouraging.
Will 2019 Be Better for Altria and Philip Morris? Of the 17 analysts that follow Altria Group (MO), 58.8% are favoring a “buy,” and 41.2% are favoring a “hold.” There aren’t any “sell” ratings on the stock. On December 7, Barclays initiated coverage on Altria with an “overweight” rating and a target price of $64.
Will 2019 Be Better for Altria and Philip Morris? Dividends help smooth out return volatility for shareholders. Both Philip Morris International (PM) and Altria Group (MO) have a strong history of returning cash to shareholders.
Analysts expect Philip Morris International’s (PM) revenue to rise by 2.7% to $29.54 billion in 2018. They expect the company’s revenue for 2019 to be at $30.33 billion, which represents YoY growth of 2.7% from 2018.
Will 2019 Be Better for Altria and Philip Morris? In the first three quarters of 2018, Altria Group (MO) posted adjusted EPS of $3.04, which represents growth of 22.6% from $2.48 in the corresponding three quarters of the previous year. Also, the company has outperformed analysts’ EPS expectations in all three quarters.
Will 2019 Be Better for Altria and Philip Morris? In the first three quarters of 2018, Philip Morris International (PM) posted net revenue growth of 8.2%, outperforming Altria Group’s (MO) net revenue growth of 0.4%. During the period, Philip Morris posted net revenue of $22.13 billion compared to $20.45 billion in the first three quarters of 2017.
Will 2019 Be Better for Altria and Philip Morris? 2018 has been tough for tobacco companies. The increased anti-tobacco regulations, the declining smoking population, and the rising competition in the RRP (reduced-risk products) space have been putting pressure on tobacco companies.
Yes, there was a strong rebound off the October lows, which is classic market action. Almost textbook as well is the dramatic intra-day swings and alternating days of declines and advances, explains dividend specialist and value investing expert, Kelley Wright, editor of IQ Trends.
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.