Philip Morris worldwide was upgraded by analysts at Zacks from a “sell” rating to a “hold” rating.
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Earnings amounted to $1.24 a share, excluding a few items, the New York-based company said in a statement Thursday.
Overall, investors in Philip Morris were pleased with the favorable outlook, as the stock climbed 1.5% by midday following the announcement.
Revenue excluding excise taxes fell to $US6.93 billion from $US7.86 billion a year earlier. Yet Philip Morris’ financials revealed a few encouraging signs of a brighter future for the tobacco company. Moreover, the company’s focus on the growing e-cigarette category and less harmful alternative tobacco products is in line with the changing consumer preferences. Philip Morris is increasing its foothold in the emerging markets through strategic acquisitions. They now have a “reduce” rating on the stock.
10/1/2015 – Philip Morris global was downgraded by analysts at Zacks from a “hold” rating to a “sell” rating. Philip Morris global Inc.
9/22/2015 – Philip Morris worldwide was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. The 52-week high of the share price is $90.25 and the 52-week low is $75.27. The stock ended up at $86.07. As per the last observation, the net money flow stood at $(-51.61) million and the up/down ratio was found to be 0.63. The firm has a 50 day moving average of $80.72 and a 200 day moving average of $82.23.
Philip Morris’ third-quarter adjusted profit and revenue topped analysts’ estimates, bolstered in part by increased cigarette prices. Thomson Reuters had consensus estimates for EPS of $1.11 and revenue of $6.76 billion.
-Revenue (Q3): $19.42 Bln vs. $21.34 Bln a year ago. Analysts had estimated $1.12 on average, according to data compiled by Bloomberg.
For the year, Philip Morris now expects its adjusted earnings to grow 11 per cent to 12 per cent, compared with its previous guidance for growth of 9 per cent to 11 per cent. Stockholders of record on Wednesday, September 30th were given a $1.02 dividend. The ex-dividend date of this dividend was Monday, September 28th. The shares were sold at an average price of $85.37, for a total transaction of $2,134,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
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The seller of Marlboro and other cigarette brands outside the United States also narrowed its full-year earnings forecast on Thursday. The Organization ‘s products can be purchased in more than 180 markets, including a wide selection of worldwide and local, premium, mid-cost and low-priced brands.
