The tobacco giant’s shares finished the day up 0.71%, buoyed by positive market sentiment and strong analyst ratings, despite a recent post-earnings dip.
NEW YORK – Shares of Philip Morris International (NYSE: PM) ended a volatile trading day on a high note on Tuesday, August 5, closing at $164.14. This marks a daily increase of $1.15, or 0.71%. The stock showed resilience, recovering from an early low to finish near the day’s peak.
The trading session began with the stock opening at $162.91, slightly below the previous close of $162.99. It touched a low of $162.72 in the morning before rallying to a high of $165.11. After-hours trading remained stable with no change in the closing price.
This positive performance comes amid a backdrop of strong year-to-date gains for the company, which has seen its stock rise approximately 35.4% so far this year.[1] The company, with a market capitalization of around $253.7 billion, is in the midst of a strategic shift towards smoke-free products like IQOS and ZYN.[1][2][3] This transformation has been a key focus for investors and analysts.
Recent news indicates that despite a stock tumble after its second-quarter earnings report in July, many analysts remain bullish on the company’s long-term prospects.[1][4] The company beat adjusted earnings per share (EPS) estimates, and its move into smoke-free alternatives is seen as a significant growth driver.[1][5] In fact, a consensus of 14 analysts rates the stock as a “Strong Buy.”[1] Multiple analysts have recently issued price targets for the stock, with a median target of $195.0.[6]
For investors, Philip Morris International maintains a dividend yield of 3.29%, with a quarterly dividend of $1.35 per share. The stock’s price-to-earnings (P/E) ratio stands at 31.15. Over the past year, the company’s stock has traded between a 52-week low of $113.20 and a high of $186.69, showing significant upward momentum.
